Business & Finance
Philippine October Inflation Accelerates 7.8%, Close to Four-Year High
Key Points
Philippine Inflation Surges to 7.8%, Boosting Case for Rate Hike Philippine inflation accelerated to its fastest pace in almost four years in October as the prolonged Middle East conflict drove up the cost of fuel, electricity and transport in a nation heavily reliant on the region for its energy supplies. Consumer prices hit 7.8% last month from a year earlier, the highest since an 8.6% print in February 2023, the Philippine Statistics Authority said Thursday. Inflation was 7.2% in...
Philippine Inflation Surges to 7.8%, Boosting Case for Rate Hike
Philippine inflation accelerated to its fastest pace in almost four years in October as the prolonged Middle East conflict drove up the cost of fuel, electricity and transport in a nation heavily reliant on the region for its energy supplies.
Consumer prices hit 7.8% last month from a year earlier, the highest since an 8.6% print in February 2023, the Philippine Statistics Authority said Thursday. Inflation was 7.2% in September, and the median estimate in a Bloomberg News survey put October’s number at 7.6%.