The Bangko Sentral ng Pilipinas expects October inflation to cool further, projecting it to settle within the 1.4 to 2.2 percent range.
According to the central bank, price increases in rice, fish, vegetables, electricity, and the weaker peso may have added some upward pressure during the month. However, these were likely offset by lower prices of oil, meat, and fruits, which helped temper overall inflation.
The BSP said it remains vigilant amid shifting global and domestic conditions, reiterating that its monetary policy decisions will continue to be guided by data and market developments.
The Philippine Statistics Authority will release the official October inflation report on November 5. Inflation in September stood at 1.7 percent, slightly higher than August’s 1.5 percent. Year-to-date, the average remains at 1.7 percent—still below the government’s 2 percent lower-end target.