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October Inflation Seen At 5.1 Percent
- By The Financial District
- Nov 2, 2023
- 1 min read
The Bangko Sentral ng Pilipinas projects October 2023 inflation to settle within the range of 5.1 to 5.9 percent.
Higher prices of electricity, LPG, fruits, and fish, as well as the recent adjustment in jeepney fares are the primary sources of upward price pressures in October.
It noted that higher prices of electricity, LPG, fruits, and fish, as well as the recent adjustment in jeepney fares are the primary sources of upward price pressures in October.
Meanwhile, lower prices of rice, meat, and vegetables along with the reduction in the prices of petroleum products could contribute to downward price pressures.
Going forward, the BSP said it will continue to closely monitor developments affecting the outlook for inflation and growth in line with its data dependent approach to monetary policy formulation.
