Inflation Philippines 2022
Average inflation: 5.8%
Current Inflation
Inflation is very high at 5.8%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 8.1%. The lowest inflation was in January at 3.0%.
- Highest month
- December: 8.1%
- Lowest month
- January: 3.0%
- Difference
- 5.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 6.4%. The lowest price increase was in Core inflation with an average of 4.5%.
- Highest increase
- Energy: 6.4%
- Lowest increase
- Core inflation: 4.5%
Historical Context
Current inflation is 1.8% higher than the 5-year average of 4.0%. This approaches the highest level since records began (5.8% in 2022).
- 5-year average
- 4%
- 10-year average
- 3.1%
- All-time high (2022)
- 5.8%
- All-time low (2015)
- 0.7%
Trend
Inflation shows an upward trend. Compared to 2021, inflation has risen by +1.9 percentage point.
- Change vs. previous year
- +1.9 percentage points
- Largest monthly swing
- December: +5.0 percentage points
ECB Target
Inflation is 3.8% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €105.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 3.0% | -0.7 |
| February | 3.0% | -1.2 |
| March | 4.0% | -0.1 |
| April | 4.9% | +0.8 |
| May | 5.4% | +1.3 |
| June | 6.1% | +2.4 |
| July | 6.4% | +2.7 |
| August | 6.3% | +1.9 |
| September | 6.9% | +2.7 |
| October | 7.7% | +3.7 |
| November | 8.0% | +4.3 |
| December | 8.1% | +5.0 |
| Average | 5.8% |
Data source
Data from WorldBank. Last updated: 06/01/2026.