Philippine inflation accelerated to 7.8% in October compared with a year earlier, reaching its highest level since February 2023, when it stood at 8.6%, according to the Philippine Statistics Authority. The rate was 7.2% in September and exceeded the 7.6% median forecast in a Bloomberg News survey.
The prolonged conflict in the Middle East pushed up fuel, electricity and transport costs. The Philippines relies heavily on the region for its energy supplies.
Sources: Bloomberg Markets.