Inflation back at a three-year high
7.2%
September, up from 6.1% in August
Rice inflation was 20.3%, transport 14.6% and housing and utilities 8.4%. The poorest 30% of households saw 9%.
Across every category
Three forces shaping the quarter
Fuel costs are squeezing the pipeline
P2.7B
H1 net loss at a fuel marketer's Philippine arm
Its cost of sales rose 36.1% against 28.8% for net sales, and pump-price demand fell 4%. A Philippine refiner-marketer's profit fell 27% as crude, import premiums and freight hit records.
Source Daily Tribune, 18 Aug · Newswav, 5 Aug
Growth is coming from affordable essentials
+13%
Domestic branded sales at a food major, H1
Milk, coconut and newer categories led. A second food group's domestic growth slowed to 3.4% in Q2 as energy costs rose.
Food
Affordable essentials are growing, while energy and delivery costs eat into margin.
A Philippine food major grows domestic branded sales 13% in the first half
Growth was led by milk, coconut and newer categories, and reached 14% in Q2. The company said price increases stayed well below inflation, and that rising fuel costs strained both consumers and its own costs.
Source Context.ph, 7 Aug
A second food group: domestic sales up 6.4% in H1
First-half domestic sales reached P35.0 billion, led by biscuits, but Q2 growth slowed to 3.4%. Gross margin fell 203 bps from Q1 on higher manufacturing costs from elevated energy, and transport and delivery costs weighed on EBITDA.
Source Company 1H26 release, 12 Aug
Fuel & lubricants
Pump-price demand is weaker, and lubricants are holding up.
A fuel marketer's Philippine arm posts a P2.7 billion H1 loss
Mobility volume fell 4% as high pump prices dampened demand, while commercial fuels rose 4%. Lubricants supported earnings on steady demand and the expansion of its workshop network.
Source Daily Tribune, 18 Aug
A Philippine refiner-marketer: H1 profit down 27%
Philippine retail fuel sales grew 15% as the crude it imports, priced on Dubai, averaged $91 a barrel, up 27%. Record crude, import premiums and freight cut profit.
Source Newswav, 5 Aug
Vehicles & parts
Monthly sales are recovering, and electrified models are a growing share.
July vehicle sales rise 5% year on year, the first rise of 2026
The market sold 42,880 units, up 2% on June. Electrified models were 29.5% of sales. January to July sales for CAMPI-TMA members are still down 10.2%.
Source Daily Tribune, 31 Aug
Building materials
Ownership is changing and one producer's first-half sales fell.
A global cement major sells its Philippine operations to a Chinese buyer for $807 million
It sells a 67.6% stake for $527 million and plans to exit the remaining stake of about 31% within three to five years. Closing is expected in the first half of 2027.
Source Context.ph, 3 Aug
A Philippine conglomerate's cement unit: H1 net sales down 6%
Net sales were P17.8 billion, down 6% on weaker volumes and average selling prices.
Source Cemnet, 18 Aug
