BSP sees October inflation at 1.4%–2.2%

The Bangko Sentral ng Pilipinas (BSP) expects inflation in October to settle between 1.4 percent and 2.2 percent, driven by higher prices of rice, fish, vegetables, electricity, and the peso’s depreciation.

In a statement Thursday, the BSP said these upward pressures may be partly offset by lower prices of oil, meat, and fruits.

“Going forward, the BSP will continue to monitor evolving domestic and international developments affecting the outlook for inflation and growth in line with its data-dependent approach to monetary policy formulation,” the central bank said.

The Philippine Statistics Authority will release the official October inflation data on November 5.

Headline inflation stood at 1.7 percent in September, slightly higher than August’s 1.5 percent. The year-to-date average remains at 1.7 percent—still below the government’s 2 to 4 percent target range.