MANILA: The Philippine central bank said on Monday annual inflation in October was expected within the 3.2% to 3.7% range, with higher energy costs, water rates and a weaker peso contributing to upward price pressures.
Headline inflation in September was 3.4%, bringing nine-month average inflation to 3.1%. Average inflation is expected to remain within the government’s target range of 2-4% for this year, the central bank said in a statement. October inflation data is due on Nov 7, two days before the central bank holds its policy-setting meeting.
