Philippines: Inflation is stable in October
November 4, 2016
In October, consumer prices rose 0.2% from the previous month, matching September’s print. The soft rise mainly reflected higher prices for food and non-alcoholic beverages.
Inflation was 2.3% in October, mirroring September’s reading. Annual average inflation edged up to a twelve-month high of 1.6% from the 1.4% recorded in September. Annual average inflation is an important indicator as the Central Bank uses it as a guide for monetary policy, with an inflation target for the 2016–2018 period set at 3.0% plus/minus one percentage point.
Core consumer prices, which exclude volatile items such as foodstuffs and oil, rose 0.1% in October from the previous month, matching September’s reading. Finally, core inflation in October mirrored September’s 2.3%.