Food prices are beginning to stir, hinting at fresh inflationary pressure, according to the latest price situationer released by the Philippine Statistics Authority (PSA). While select commodities are ticking higher month on month, softer year-on-year trends in key staples such as rice and chicken could keep headline inflation manageable, preserving space for potential monetary easing.
Rice, which carries significant weight in the consumer price index basket, posted a notable uptick. The national average retail price of regular milled rice climbed to P45.54 per kilo in the first phase of February 2026, up from P43.76 in the second phase of January and P43.14 in early January.
Still, compared with a year earlier, rice prices remain subdued. February 2026 levels are well below the P47.19 and P47.77 per kilo recorded in the second and first phases of February 2025, respectively, a tempering factor for annual inflation expectations.
Fresh pork (liempo) also eased, averaging P368.95 per kilogram in early February, down from both January readings and lower than year-ago levels above P375. Meanwhile, dressed chicken held steady at P213.21 per kilo, sharply below the P313.73 posted in the same period last year.
Not all items offered relief. Red onion prices rose to P190.49 per kilo, higher than the P162.69 recorded a year ago, though down from early January’s P207.20. Tilapia prices were also reported higher in the latest phase.
The PSA conducts its price surveys within the first five days of the month and again at mid-month. With food accounting for a heavy share of inflation calculations, the emerging mix of creeping monthly gains and softer annual comparisons suggests price pressures are building but not yet boiling over.
