Starting February 2022, the Philippine Statistics Authority (PSA) released the rebased Consumer Price Index (CPI) for all income households to base year 2018, from base year 2012 as announced in the press release number 2022-01 dated 04 January 2022. The CPI series for all income households for January 2022 onwards will be 2018-based.

Table A. Year-on-Year Inflation Rates, All Items
In Percent
(2018=100)

A. The Philippines

The Philippines’ headline inflation or overall inflation eased to 2.1 percent in February 2025 from 2.9 percent in January 2025. This brings the national average inflation from January to February 2025 to 2.5 percent. In February 2024, the inflation rate was higher at 3.4 percent.  (Table A)

B. Central Visayas

1. Regional Inflation

In Central Visayas, the headline inflation or overall inflation in February 2025 remained at 2.5 percent, the same annual growth rate recorded in January 2025. The average inflation in Central Visayas from January to February 2025 posted at 2.5 percent. The inflation rate in February 2024 was higher which stood at 2.7 percent.  (Table A)

C. Province of Cebu

1. Headline Inflation

The headline inflation for the Province of Cebu recorded a faster annual growth rate at 3.5 percent in February 2025 from 3.2 percent in January 2025. This brings the province’s average inflation from January to February 2025 to 3.3 percent. In February 2024, it posted  at 0.2 percent annual decrease. (Table A and Figure 1)

1.1    Main Drivers to the Upward Trend of the February 2025 Headline Inflation

The uptrend in the headline inflation were primarily influenced by the faster annual growth rates in the indices of transport at 10.9 percent, and housing, water, electricity, gas and other fuels at 1.8 percent during the month from their respective inflation rates at 6.5 percent and 0.9 percent in January 2025.

In contrast, the indices of the following commodity groups that recorded slower year-on-year increases during the month were:

a. Food and non-alcoholic beverages, 4.2 percent from 4.7 percent;
b. Alcoholic beverages and tobacco, 1.9 percent from 2.5 percent;
c. Health, 1.5 percent from 1.6 percent;
d. Recreation, sport and culture, 0.6 percent from 0.9 percent; and
e. Personal care, and miscellaneous goods and services, 2.2 percent from 2.3 percent.

While, the commodity groups that remained their previous month’s inflation rates were as follows:

a. Clothing and footwear, 0.1 percent;
b. Furnishings, household equipment and routine household maintenance, 4.2 percent; 
c. Information and communication, 0.0 percent;
d. Education services, 7.2 percent;
e. Restaurants and accommodation services, 0.0 percent; and
f. Financial services, 0.0 percent.

1.2    Main Contributors to the Headline Inflation

The top three commodity groups that contributed to the February 2025 headline inflation in the province were the following:

a. Food and non-alcoholic beverages with 48.5 percent share or 1.7 percentage points;    
b. Transport with 28.8 percent share or 1.0 percentage point; and     
c. Housing, water, electricity, gas and other fuels with 11.0 percent share or 0.4 percentage point.

2. Food Inflation

Food inflation in the Province of Cebu slowed down to 4.4 percent in February 2025 from 4.9 percent in January 2025. In February 2024, food inflation rate stood at 0.5 percent annual decline. (Table 7)

2.1    Main Drivers to the Downtrend of Food Inflation

The downtrend of food inflation in the province were mainly brought by the slower annual increments in the indices of corn at 15.4 percent, fruits and nuts at 8.1 percent, and meat and other parts of slaughtered land animals at 5.9 percent during the month from their  previous month’s respective inflation rates at 19.6 percent, 10.9 percent, and 6.3 percent.  In addition, faster annual decrement was noted in rice index at 3.4 percent in February 2025 from annual drop of 2.0 percent in January 2025. (Table 5)

Moreover, slower annual increases were recorded in the indices of flour, bread and other bakery products, pasta products and other cereals at 0.5 percent and ready-made food and other food products not elsewhere classified at 2.9 percent during the month from their previous month’s respective inflation rates at 1.0 percent and 4.4 percent.

On the contrary, faster annual increments were observed in the indices of fish and other seafood at 6.2 percent, and vegetables, tubers, plantains, cooking bananas and pulses at 10.1 percent during the month from their respective inflation rates at 5.8 percent and 7.0 percent in the previous month.
Slower annual decrements were recorded in the indices of milk, other dairy products and eggs at 0.7 percent, and sugar, confectionery and desserts at 6.1 percent during the month from their respective food inflation rates at 1.8 percent and 7.3 percent annual decreases in the previous month.

Oils and fats retained its previous month’s food inflation rate at 0.1 percent. (Table 5)

2.2 Main Contributors to the Food Inflation

Food inflation shared 46.7 percent or 1.6 percentage points to the overall inflation in February 2025. The food groups with highest contribution to the food inflation during the month were the following:

a. Cereals and cereals products, which includes rice, corn, flour, bread and other bakery products, pasta products, and other cereals, with a share of 30.0 percent or 1.3 percentage points;
b. Fish and other seafood, with a share of 26.5 percent or 1.2 percentage points; and
c. Meat and other parts of slaughtered land animals, with a share of 22.4 percent or 1.0 percentage point.

Table B. Year-on-Year Inflation Rates in the Province of Cebu, All Items
In Percent
January 2020 – February 2025
(2018=100)

Approved by:

MELCHOR B. BAUTISTA
Chief Statistical Specialist

MJG/KST