Value of P1 in 2018 declines to 73 centavos in April 2026

The buying power of the Philippine peso has declined to its lowest level in eight years amid rising inflation—which soared to its fastest rate in three years last month—as the global fuel price shocks rippled across food, commodities, and utilities in the country.

At a press briefing on Tuesday, National Statistician and Philippine Statistics Authority (PSA) chief Claire Dennis Mapa said the value of P1 during the base year 2018 is now equivalent to only 73 centavos as of April 2026.

Mapa said P1's worth last month, measured as purchasing power of the Philippine peso, was at its "lowest since we rebased it in 2018."

This means the value of P100 in 2018 has gone down to P73. Further, the worth of P1,000 eight years ago declined to only P730.

"When inflation increases, the consequence is the purchasing power of the peso declines," Mapa said.

The PSA defines the purchasing power of the peso as a measure of the "real value" of the local currency in a given period relative to a base year, in this case 2018, which indicates the amount of goods and services that a currency can buy.

A lower purchasing power means consumers can buy less with their money compared to their base year's worth.

The purchasing power of the Philippine peso is computed as 1 divided by the consumer price index, multiplied by 100.

The decline of the peso's buying power came after inflation—the rate of increase in the prices of goods and services—sped up to 7.2% in April from 4.1% in March. — VDV, GMA News