Philippines’ annual inflation at 1.7% in October

[MANILA] Philippines’ annual inflation stood at 1.7 per cent in October, unchanged from the previous month, the statistics agency said on Wednesday.

Last month’s inflation was below the 1.8 per cent median forecast in a Reuters poll, and brought the year-to-date average inflation to 1.7 per cent, below the central bank’s 2.0 per cent to 4.0 per cent target for the year.

Excluding volatile food and energy costs, core inflation eased to 2.5 per cent in October from the prior month’s 2.6 per cent. REUTERS