Philippines: Inflation stabilizes at low level following downward trend
November 5, 2015
In October, consumer prices rose 0.1% over the previous month, contrasting September’s 0.2% decrease.
Following seven months of decreasing inflation, inflation stabilized at September’s record low of 0.4% in October. Meanwhile, annual average inflation, which is the reference rate used by the Central Bank as a guide for monetary policy, fell from 2.1% in September to 1.7% in October, marking the lowest value on record. As a result, average inflation in September for the first time on record fell below the Central Bank’s inflation target range of 2.0% to 4.0%.
Core consumer prices, which exclude volatile items such as food and oil, in October rose 0.1% over the previous month, contrasting September’s small 0.1% decrease. Finally, core inflation edged down from September 2.3% to 2.1% in October.