Philippines Inflation Higher at 3.5% in October 2017

Manila | 7th November 2017

Headline inflation increased to 3.5 percent year-on-year in October from 3.4 percent in September in line with BSP staff forecasts. The resulting year-to-date average inflation rate of 3.2 percent remains within the Government’s target range of 3.0 percent ± 1.0 percentage point for 2017.

” INFLATION HIGHER AT 3.5% IN October 2017, TARGET AT 3.1% “

Governor Nestor A. Espenilla, Jr. noted that the latest inflation readings continue to support the BSP’s prevailing assessment of a manageable inflation environment over the policy horizon, with average inflation expected to settle near the midpoint of the 2-4 percent target range for 2017-2019. The overall inflation outlook along with conditions for output growth, domestic demand, liquidity, and credit activity, will be comprehensively reviewed by the Monetary Board on 9 November 2017 as part of the regular monetary policy assessment process.

Source: Bangko Sentral ng Pilipinas

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