The Bangko Sentral ng Pilipinas expects Philippine inflation to fall within a range of 7.1 percent to 8.1 percent in October, citing pressure from domestic fuel prices, electricity charges and transport fares.
The central bank released its month-ahead forecast on October 30. The range straddles September’s official inflation rate of 7.2 percent, meaning the estimate allows for either a slight easing or a further acceleration in annual price increases.
The BSP said lower prices of rice, vegetables, meat and fish, supported by favourable supply conditions, could partly offset the upward pressures. It also said it would continue monitoring incoming inflation and growth data, including developments in the Middle East and their implications for the economy.
The forecast is not the official October inflation result. The Philippine Statistics Authority is scheduled to release that figure on November 5. For households, the eventual report will indicate how the overall pace of price increases changed, while individual spending patterns may produce different experiences of rising costs.
