Philippine inflation accelerates to 7.2% in April 2026, the fastest pace since March 2023, according to reports citing the Philippine Statistics Authority (PSA). Consumer prices rise further from 4.1% in March, when inflation began climbing after global oil prices increased amid the Middle East conflict. Multiple outlets attribute the April surge to spillover effects from an energy and oil crisis, with fuel-price increases pushing up transport and contributing to higher food and other basic-goods costs. One report notes the month-on-month increase is the highest since the 1990s. The April inflation print also exceeds market expectations cited in a survey of economists and goes beyond the central bank’s forecast range for the month, according to the South China Morning Post. With oil prices remaining volatile and pump prices facing renewed increases after April, economists quoted in one outlet warn inflationary pressures may persist through subsequent months. The reports indicate the latest figure is above both government and private forecasts, increasing the likelihood of tighter policy measures.