MANILA: The Philippine central bank said yesterday it will take a “measured approach” in its policy easing cycle as annual inflation accelerated in October on higher food and transport prices.

The consumer price index rose 2.3% in October from the previous month’s 1.9% print, the statistics agency said on Tuesday, below the 2.4% forecast in a Reuters poll of economists.

Core inflation, which strips out volatile food and energy items, was at 2.4% in October, steady with September’s rate.

Last month’s inflation print brought average inflation in the first 10 months of the year to 3.3%, within the central bank’s 2% to 4% target range. The Bangko Sentral ng Pilipinas bank said in a statement inflation will trend closer to the lower end of its target, even as risks to the outlook for next year and 2026 shift to the upside. 

- Reuters