Inflation back above 2% in Oct - BSP

Headline inflation likely picked up to above two percent in October after easing for two straight months to 3.3 percent in August and 1.9 percent in September, the Bangko Sentral ng Pilipinas (BSP) said.

- By KEISHA TA-ASAN

In its month-ahead inflation forecast, the central bank said inflation likely settled within a range of two to 2.8 percent in October.

"Higher prices of food commodities such as vegetables, fruits and fish as well as the increase in prices of domestic petroleum products and the peso depreciation are the primary sources of upward price pressures for the month," the BSP said.

On the other hand, lower prices of rice and meat along with reduced electricity rates contributed to downward price pressures last month, it said.