The Bank of the Philippines predicts that the inflation rate in October will be between 7.1% and 8.1%, while the year-on-year inflation rate in September will be 7.2%. The Bank of the Philippines said in a statement that upward pressure on prices may stem from rising domestic fuel, electricity and transportation costs. However, due to good supply conditions, falling prices for major agricultural products such as rice, vegetables, meat and fish may have mitigated these pressures to some extent. The Bank of the Philippines said, “The central bank will be alert and guided by the latest data.” The central bank added that it will continue to evaluate the impact of the latest situation in the Middle East.

The Bank of the Philippines predicts that the inflation rate in October will be between 7.1% and 8.1%, while the year-on-year inflation rate in September will be 7.2%. The Bank of the Philippines said in a statement that upward pressure on prices may stem from rising domestic fuel, electricity and transportation costs. However, due to good supply conditions, falling prices for major agricultural products such as rice, vegetables, meat and fish may have mitigated these pressures to some extent. The Bank of the Philippines said, “The central bank will be alert and guided by the latest data.” The central bank added that it will continue to evaluate the impact of the latest situation in the Middle East.