MANILA: The upcoming fee increases at Ninoy Aquino International Airport (Naia) may stoke transport inflation by making air travel costlier in the near term, according to the central bank, although the higher charges would unlikely upset the overall price growth outlook.
In its latest monetary policy report, the Bangko Sentral ng Pilipinas (BSP) said there was a “high probability” that the jump in Naia fees would result in costlier airfares.
The BSP flagged the increase as it predicted that upward pressure on inflation – as measured by the consumer price index (CPI) – may come from higher transport charges.
It may be recalled that San Miguel-led New Naia Infrastructure Corp, the airport’s new operator, had announced that terminal fees for domestic travellers will rise from 200 Philippine pesos to 500 pesos starting September 2025, while those for international travellers will rise from 550 pesos to 950 pesos. That was on top of steep increases in airport parking rates that already took effect last year.
But the central bank said the higher fees at the country’s premier gateway would not be enough to upset the inflation outlook – not even its risk-adjusted CPI forecast of 3.5% for 2025 that already took into account the possible worst-case scenarios.
Overall, the BSP expected inflation to stay within its 2% to 4% target range this year. Latest data from the Philippine Statistics Authority showed that the CPI for air travel contracted by 8.8% in February, easing from the 12.4% deflation in January. — Philippine Daily Inquirer/ANN
