The rate of change in the prices of goods that a typical Filipino household buys may have settled within the range of 1.4 percent to 2.2 percent in October, according to the Bangko Sentral ng Pilipinas.
The BSP said in a statement on Thursday that the upward price pressures in October may stem from higher prices of rice, fish, vegetables, and electricity, as well as the depreciation of the peso.
‘These pressures could be partially offset by lower prices of oil, meat and fruits,’ the central bank said.
The estimate means that inflation could be just about the same as in the previous month.
Inflation across the Philippines was pegged at 1.7 percent in September, which was also the average for the January-September period this year.