Philippine central bank: October inflation may accelerate.

The Philippine central bank forecasts that inflation in October will range between 7.1% and 8.1%, while the year-on-year inflation rate in September was 7.2%. In a statement, the Philippine central bank said that upward price pressures may stem from increases in domestic fuel, electricity, and transportation costs. However, due to favorable supply conditions, declines in the prices of major agricultural products such as rice, vegetables, meat, and fish may have alleviated these pressures to some extent. The Philippine central bank said: "The central bank will remain vigilant and be guided by the latest data." The central bank added that it will continue to assess the impact of the latest situation in the Middle East.