Philippines - Inflation Rate 2024
3.21%
−2.77pp from 2023
Philippines's inflation rate was 3.21% in 2024, decreased +2.77pp from 5.98% in 2023. This was the 104th highest globally.
Global Ranking - 2024▾
| Rank | Country | Value | YoY |
|---|---|---|---|
| 1st | Iraq | -12.30% | -378.5% |
| 2nd | Afghanistan | -6.60% | 14.4% |
| 3rd | Barbados | -0.44% | -113.8% |
| 4th | Sri Lanka | -0.43% | -102.5% |
| 5th | Costa Rica | -0.41% | -178.6% |
| 6th | Brunei Darussalam | -0.39% | -208.9% |
| 7th | St. Lucia | -0.11% | -102.5% |
| 8th | China | 0.22% | -4.3% |
| 9th | Armenia | 0.27% | -86.6% |
| 10th | Seychelles | 0.31% | 132.8% |
| 11th | Bahamas, The | 0.41% | -86.6% |
| 12th | Trinidad and Tobago | 0.53% | -88.6% |
| 13th | Oman | 0.59% | -37.6% |
| 14th | Papua New Guinea | 0.60% | -73.8% |
| 15th | Panama | 0.69% | -53.3% |
| 16th | Lithuania | 0.72% | -91.8% |
| 17th | Macao SAR, China | 0.74% | -21.4% |
| 18th | Senegal | 0.80% | -86.5% |
| 19th | Cambodia | 0.81% | -62.1% |
| 20th | El Salvador | 0.85% | -78.9% |
| 21st | Bahrain | 0.92% | 1,126.2% |
| 22nd | Italy | 0.98% | -83.4% |
| 23rd | Morocco | 0.99% | -83.9% |
| 24th | St. Kitts and Nevis | 1.04% | -71.2% |
| 25th | Cabo Verde | 1.05% | -71.8% |
| 26th | Liechtenstein | 1.06% | -50.4% |
| 27th | Switzerland | 1.06% | -50.2% |
| 28th | Grenada | 1.09% | -60.0% |
| 29th | Georgia | 1.11% | -55.4% |
| 30th | Benin | 1.16% | -57.5% |
| 31st | Tuvalu | 1.17% | -83.8% |
| 32nd | Gabon | 1.17% | -67.7% |
| 33rd | Vanuatu | 1.20% | -89.3% |
| 34th | San Marino | 1.24% | -79.1% |
| 35th | Latvia | 1.27% | -86.0% |
| 36th | Qatar | 1.27% | -58.9% |
| 37th | Thailand | 1.37% | 11.1% |
| 38th | Denmark | 1.37% | -59.1% |
| 39th | Maldives | 1.40% | -46.3% |
| 40th | Central African Republic | 1.48% | -50.4% |
| 41st | Ecuador | 1.55% | -30.2% |
| 42nd | Jordan | 1.56% | -25.3% |
| 43rd | Finland | 1.57% | -63.9% |
| 44th | Kosovo | 1.62% | -67.2% |
| 45th | Malta | 1.65% | -70.3% |
| 46th | United Arab Emirates | 1.66% | 2.2% |
| 47th | Saudi Arabia | 1.69% | -27.5% |
| 48th | Bosnia and Herzegovina | 1.69% | -72.3% |
| 49th | Aruba | 1.71% | -49.1% |
| 50th | Hong Kong SAR, China | 1.73% | -17.5% |
| 51st | Rwanda | 1.77% | -87.4% |
| 52nd | Cyprus | 1.80% | -54.1% |
| 53rd | Malaysia | 1.83% | -26.3% |
| 54th | Slovenia | 1.97% | -73.6% |
| 55th | France | 2.00% | -64.7% |
| 56th | Peru | 2.01% | -68.0% |
| 57th | Puerto Rico (US) | 2.02% | -42.0% |
| 58th | Luxembourg | 2.05% | -29.9% |
| 59th | Timor-Leste | 2.06% | -75.5% |
| 60th | Djibouti | 2.08% | 43.5% |
| 61st | Ireland | 2.11% | -59.4% |
| 62nd | Libya | 2.13% | -10.4% |
| 63rd | Samoa | 2.17% | -81.9% |
| 64th | Indonesia | 2.18% | -41.2% |
| 65th | Azerbaijan | 2.21% | -74.8% |
| 66th | Albania | 2.22% | -53.5% |
| 67th | Palau | 2.23% | -82.0% |
| 68th | Germany | 2.26% | -62.6% |
| 69th | Korea | 2.32% | -35.5% |
| 70th | Canada | 2.38% | -38.7% |
| 71st | Singapore | 2.39% | -50.6% |
| 72nd | Portugal | 2.42% | -54.1% |
| 73rd | Czechia | 2.44% | -77.2% |
| 74th | European Union | 2.44% | -61.3% |
| 75th | Bulgaria | 2.45% | -71.5% |
| 76th | Kiribati | 2.46% | -73.5% |
| 77th | Mauritania | 2.49% | -49.7% |
| 78th | Dominica | 2.57% | -38.9% |
| 79th | Japan | 2.74% | -16.2% |
| 80th | Greece | 2.74% | -34.0% |
| 81st | Slovak Republic | 2.76% | -74.8% |
| 82nd | Bhutan | 2.76% | -39.1% |
| 83rd | Spain | 2.77% | -18.4% |
| 84th | Botswana | 2.82% | -45.1% |
| 85th | Sweden | 2.84% | -52.0% |
| 86th | Togo | 2.86% | -46.0% |
| 87th | Guatemala | 2.87% | -53.8% |
| 88th | Kuwait | 2.90% | -20.4% |
| 89th | Guyana | 2.90% | -35.8% |
| 90th | Equatorial Guinea | 2.92% | 21.6% |
| 91st | New Zealand | 2.92% | -49.0% |
| 92nd | Austria | 2.94% | -61.9% |
| 93rd | United States | 2.95% | -28.5% |
| 94th | Croatia | 2.97% | -64.6% |
| 95th | Tanzania | 3.06% | -19.5% |
| 96th | Andorra | 3.07% | -45.2% |
| 97th | Israel | 3.07% | -26.9% |
| 98th | Congo, Republic of | 3.09% | -28.3% |
| 99th | Belgium | 3.14% | 37.0% |
| 100th | Norway | 3.15% | -43.0% |
| 101st | Australia | 3.16% | -43.5% |
| 102nd | Tonga | 3.18% | -74.6% |
| 103rd | Mali | 3.21% | 55.7% |
| 104th | Philippines | 3.21% | -46.3% |
| 105th | United Kingdom | 3.27% | -55.2% |
| 106th | Belize | 3.29% | -25.2% |
| 107th | Dominican Republic | 3.30% | -31.0% |
| 108th | Uganda | 3.32% | -37.9% |
| 109th | Montenegro | 3.34% | -61.1% |
| 110th | Netherlands | 3.35% | -18.7% |
| 111th | Côte d'Ivoire | 3.45% | -22.2% |
| 112th | North Macedonia | 3.49% | -62.7% |
| 113th | Tajikistan | 3.51% | -4.0% |
| 114th | Estonia | 3.52% | -61.4% |
| 115th | Mauritius | 3.60% | -48.8% |
| 116th | Viet Nam | 3.62% | 11.3% |
| 117th | St. Vincent and the Grenadines | 3.63% | -20.5% |
| 118th | Hungary | 3.70% | -78.4% |
| 119th | Guinea-Bissau | 3.77% | -47.4% |
| 120th | Poland | 3.78% | -67.0% |
| 121st | Paraguay | 3.84% | -17.2% |
| 122nd | Eswatini | 4.03% | -18.5% |
| 123rd | Algeria | 4.05% | -56.6% |
| 124th | Mozambique | 4.08% | -41.7% |
| 125th | Burkina Faso | 4.19% | 344.9% |
| 126th | Namibia | 4.24% | -27.9% |
| 127th | Chile | 4.30% | -43.3% |
| 128th | Solomon Islands | 4.32% | -15.1% |
| 129th | South Africa | 4.36% | -26.1% |
| 130th | Brazil | 4.37% | -4.9% |
| 131st | Kenya | 4.49% | -41.5% |
| 132nd | Fiji | 4.51% | 92.5% |
| 133rd | Cameroon | 4.53% | -38.6% |
| 134th | Turkmenistan | 4.58% | 388.4% |
| 135th | Honduras | 4.61% | -30.9% |
| 136th | Nicaragua | 4.62% | -45.2% |
| 137th | Serbia | 4.67% | -62.2% |
| 138th | Moldova | 4.68% | -65.2% |
| 139th | Nepal | 4.69% | -39.4% |
| 140th | Mexico | 4.72% | -14.5% |
| 141st | Uruguay | 4.85% | -17.3% |
| 142nd | India | 4.95% | -7.6% |
| 143rd | Kyrgyz Republic | 5.02% | -53.5% |
| 144th | Comoros | 5.05% | -40.4% |
| 145th | Bolivia, Plurinational State of | 5.10% | 97.9% |
| 146th | Marshall Islands | 5.20% | -30.1% |
| 147th | Jamaica | 5.41% | -16.4% |
| 148th | Micronesia, Federated States of | 5.44% | -12.4% |
| 149th | Somalia, Fed. Rep. | 5.53% | -10.4% |
| 150th | Romania | 5.72% | -45.0% |
| 151st | Belarus | 5.79% | 15.3% |
| 152nd | Iceland | 5.86% | -33.0% |
| 153rd | Lesotho | 6.11% | -6.2% |
| 154th | Antigua and Barbuda | 6.20% | 22.3% |
| 155th | Mongolia | 6.21% | -40.1% |
| 156th | Ukraine | 6.50% | -49.4% |
| 157th | Colombia | 6.61% | -43.7% |
| 158th | Tunisia | 7.21% | -22.7% |
| 159th | Madagascar | 7.64% | -22.5% |
| 160th | Guinea | 8.12% | 49.5% |
| 161st | Liberia | 8.21% | -18.6% |
| 162nd | Russian Federation | 8.43% | 44.0% |
| 163rd | Kazakhstan | 8.84% | -39.1% |
| 164th | Chad | 8.90% | 286.9% |
| 165th | Niger | 9.07% | 145.4% |
| 166th | Nauru | 9.27% | 93.9% |
| 167th | Uzbekistan | 9.63% | -3.3% |
| 168th | Bangladesh | 10.47% | 16.1% |
| 169th | Gambia, The | 11.56% | -31.9% |
| 170th | Pakistan | 12.63% | -56.7% |
| 171st | São Tomé and Principe | 14.35% | -32.3% |
| 172nd | Zambia | 14.99% | 37.7% |
| 173rd | Suriname | 16.23% | -68.5% |
| 174th | Congo, Democratic Republic of | 17.65% | -11.3% |
| 175th | Burundi | 20.21% | -25.4% |
| 176th | Ghana | 22.85% | -41.7% |
| 177th | Lao PDR | 23.13% | -25.9% |
| 178th | Myanmar | 26.50% | 4.0% |
| 179th | Haiti | 26.95% | -38.9% |
| 180th | Angola | 28.24% | 107.1% |
| 181st | Egypt, Arab Republic of | 28.27% | 15.9% |
| 182nd | Sierra Leone | 28.63% | -40.0% |
| 183rd | Malawi | 32.18% | 11.7% |
| 184th | Iran, Islamic Republic of | 32.46% | -20.2% |
| 185th | Nigeria | 33.24% | 34.8% |
| 186th | Yemen, Republic of | 33.92% | 3,853.1% |
| 187th | Lebanon | 45.24% | -79.6% |
| 188th | West Bank and Gaza | 53.67% | 814.0% |
| 189th | Türkiye | 58.51% | 8.6% |
| 190th | South Sudan | 91.44% | 130.5% |
| 191st | Sudan | 185.68% | 140.4% |
| 192nd | Argentina | 219.88% | 64.7% |
| 193rd | Zimbabwe | 736.11% | 10.3% |
FAQ
What was Philippines's inflation rate in 2024?▾
Philippines's inflation rate in 2024 was 3.21%. This ranked 104th globally.
How did Philippines's inflation rate change in 2024?▾
Philippines's inflation rate decreased by 46.3% in 2024 compared to 2023.
Which country had the highest inflation rate in 2024?▾
Zimbabwe had the highest inflation rate in 2024 at 736.11%.
What is the inflation rate of Philippines in 2024?▾
The inflation rate of Philippines in 2024 was 3.21%. This ranked 104th globally.
How does 2024 compare to 2023 for Philippines's inflation rate?▾
Philippines's inflation rate went from 5.98% in 2023 to 3.21% in 2024, a 46.3% decrease.
Related
2023
2025
All years
Full ranking 2024
Consumer Price Index
PPP Conversion Factor
Peak: 1984
Lowest: 2015
Inflation Rate 1990s
Inflation Rate 2000s
Inflation Rate 2010s
Inflation Rate 2020s
Highest ever
Lowest ever
Average
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ASEAN Inflation Rate
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