Headline inflation in the Philippines inched up to 1.7 percent in September from 1.5 percent in August, staying within the Bangko Sentral ng Pilipinas (BSP) forecast range of 1.5 to 2.3 percent for the month.
From January to September, inflation averaged 1.7 percent, still below the government’s target range of 2 to 4 percent.
The BSP attributed the increase mainly to higher transport costs and food price adjustments following recent weather disturbances that affected vegetable supply. Meanwhile, rice prices continued to decline due to sufficient supply, lower global rice prices, and ongoing government efforts to stabilize the market.
On a seasonally adjusted month-on-month basis, inflation eased from 0.5 percent in August to 0.1 percent in September, while core inflation also slowed slightly to 2.6 percent from 2.7 percent.
The BSP reaffirmed its commitment to maintaining price stability that supports sustainable growth and employment, emphasizing that it will continue to monitor economic data and adjust monetary policy as needed.
