Inflation cools to 1.5% in November 2025 amid slower price hikes in vegetables, meat

MANILA, Philippines – Inflation eased to 1.5% in November as the rise of vegetable and meat prices slowed, the Philippine Statistics Authority (PSA) said on Friday, November 5.

The latest inflation print brings the average rate for 2025 to 1.6%, still below the government’s target range of 2% to 4%.

Deputy National Statistician Divina Gracia del Prado said inflation of food and non-alcoholic beverages fell to just 0.1% in November. For vegetables in particular, inflation dropped to 4% from 16.4% in October, while for meat, inflation slowed to 4.2% from 5.2%.

But “other pelagic fish,” which ranked as the top contributor to the overall November figure, saw higher inflation of 13% from 11.7%, driven by galunggong (round scad) prices that went up due to the recent tropical cyclones that hit the country.

“Naapektuhan din siya, so we have a scarcity of galunggong kaya mataas din ‘yung price niya,” Del Prado said. (The supply was affected, so we have a scarcity of round scad and that’s why its prices are currently high.)

Del Prado also noted that inflation of beans jumped from -12% in October to 12.4% in November. Prices of onions and shallots have also been trending upward, recording an even higher 48.2% inflation rate from the already elevated 34.9%.

Image from Philippine Statistics Authority

In Metro Manila, inflation slightly eased to 2.8% from 2.9% the prior month. Regions outside Metro Manila also saw a similar slowdown to 1.2% from 1.3%.

Central Visayas recorded the fastest inflation rate at 3.3% while the Bangsamoro Autonomous Region in Muslim Mindanao saw continuous deflation or negative inflation at -1.4%. Deflation means price levels are decreasing.

Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan attributed the slowdown to the Marcos administration’s efforts to strengthen the food supply chain and ensure food security.

“The sustained moderation in inflation reflects our commitment to protect consumers and strengthen our economic resilience against global and domestic headwinds. We will continue implementing timely, well-coordinated policies to keep prices stable and ensure progress is felt by every Filipino,” the country’s chief economist said.

DEPDev added that the Department of Agriculture has issued guidelines to safeguard the country against African swine fever while facilitating safe pork imports. These include the recognition of ASF-free zones within accredited exporting countries.

Executive Secretary Ralph Recto also said the latest inflation print will give the Bangko Sentral ng Pilipinas (BSP) more room for another rate cut in its final monetary policy meeting of the year on Thursday, December 11.

Apart from the BSP’s monetary policy meeting, the Development Budget Coordination Committee is also set to discuss the country’s economic growth and inflation targets on Tuesday, December 9. – Tatiana Maligro, with reports from Arriane dela Cruz/Rappler.com

Arriane dela Cruz is a Rappler intern. Learn more about Rappler’s internship program here.