Consumer prices rose sharply in March, driven largely by higher food and utility costs, the Philippine Statistics Authority (PSA) reported.
Data released Tuesday showed that the country’s seasonally adjusted Consumer Price Index (CPI) grew by 1.6 percent month-on-month in March 2026, a significant jump from the 0.4 percent increase recorded in February.
The PSA attributed the acceleration to stronger price gains across key household spending items, particularly food and energy-related costs.
“Faster month-on-month increments were noted for… food and non-alcoholic beverages… [and] housing, water, electricity, gas and other fuels,” the PSA said.
Food prices, a major component of household spending, rose by 1.2 percent, up from 0.7 percent in February. Meanwhile, housing and utilities, which include electricity and fuel, posted a 1.0 percent increase, a sharp rise from just 0.2 percent the previous month.
The uptick reflects mounting pressure on basic goods and services, as global uncertainties, particularly the ongoing crisis in the Middle East, continue to disrupt energy markets and supply chains.
The Philippines, which relies heavily on imported fuel, is especially vulnerable to fluctuations in global oil prices. Higher fuel costs typically cascade into increased transport, production, and food prices, amplifying inflation at the household level.
The price surge was felt nationwide.
In the National Capital Region (NCR), inflation accelerated to 1.6 percent in March from just 0.1 percent in February, while areas outside Metro Manila recorded an even faster increase of 1.7 percent from 0.4 percent.
Outside NCR, the impact of rising energy costs was particularly evident. The index for housing and utilities rebounded to a 0.9 percent increase in March from a 0.1 percent decline in February, signaling a turnaround in power and fuel-related expenses.
Food prices in these areas also climbed faster at 1.3 percent, up from 0.5 percent.
The PSA noted that seasonal demand also contributed to the uptick, saying that “seasonal factors, such as the degree of demand for selected goods and services during the season, pushed up the indices” across most commodity groups, including food, housing, and restaurants.
Still, the broad-based increase across essential items underscores the growing strain on consumers, especially as external risks — from geopolitical tensions to volatile energy prices — continue to feed into domestic inflation.
With both food and power costs rising simultaneously, economists warn that price pressures could persist in the coming months if global conditions remain unstable.