Philippine inflation eases in Oct, allows central bank to keep easy policy [Reuters]
BDO UNIBANK S/ADR (BDOUY)
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Source: Reuters
Vendors and customers wearing face masks for protection against the coronavirus disease (COVID-19) are seen inside a public market in Quezon City, Metro Manila, Philippines, February 5, 2021. REUTERS/Eloisa Lopez The Consumer Price Index rose 4.6% last month from a year earlier, decelerating from 4.8% in September as lower food inflation offset higher energy costs, government data on Friday showed. October inflation came in near the bottom end of the central bank's 4.5%-5.3% forecast, and below the 4.9% median estimate in a Reuters poll. Core inflation, which excludes volatile food and fuel prices, picked up to 3.4% from 3.3% in September. Inflation averaged 4.5% in January-October, above the year's 2%-4% target range of the Bangko Sentral ng Pilipinas (BSP). While inflation is likely to remain elevated and driven by supply-side pressures for the remaining months of 2021, the BSP expects the headline number to return to the same target band in 2022 and 2023. BSP Governor
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