2024 Inflation Rate Philippines. Inflation continues to hit lower socioeconomic classes the hardest, with the inflation rate for the bottom 30% income households reaching 5.8% — the highest in 2024. Inflation is projected to average at 3.6 percent for 2024, slightly lower by 0.1 percentage point (ppt).

Figures are based on the latest edition of adb’s asian development outlook, which analyzes economic and development issues in developing countries in asia and the pacific. Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or.