Inflation likely settled at 1.4%-2.2% range in Oct – BSP

Inflation likely hovered between 1.4 and 2.2 percent in October, according to the Bangko Sentral ng Pilipinas (BSP), as higher food and electricity costs were partly offset by cheaper oil and meat prices.

- By KEISHA TA-ASAN

"Upward price pressures for the month may stem from higher prices of rice, fish, vegetables and electricity as well as the depreciation of the peso," the BSP said in a statement.

"These pressures could be partially offset by lower prices of oil, meat and fruits," it said.

If inflation reaches the upper end of the BSP’s forecast range, it would mark the highest level in eight months or since the 2.9 percent print in January.

But if it settles below two percent, it would be the eighth straight month that inflation stayed within the lower half of the government’s two to four percent target band.