The forecast compares with the 2.4 percent headline inflation in September, the highest since March last year, and with 1.8 percent in August. The Philippine Statistics Authority is set to release the October headline inflation data on November 4. BSP Governor Amando Tetangco Jr. said the central bank observed higher oil and food prices in October, with consumer food products more expensive in areas damaged by typhoons Karen and Lawin. “The BSP forecast suggests that October inflation could settle within the 1.9 to 2.7 percent range,” Tetangco said in a text message to reporters on Wednesday. The central bank expects headline inflation to hit an average of 1.7 percent by end-2016, while forecasting rates to reach 2.9 percent and 2.6 percent by 2017 and 2018, respectively.

Source: Manila Times October 26, 2016 17:48 UTC