The Bangko Sentral ng Pilipinas projects the inflation rate for October 2025 to fall within 1.4% to 2.2%. Upward pressures stem from higher prices of rice, fish, vegetables, electricity rates, and peso depreciation against the US dollar. These are expected to be offset partly by lower prices of oil, meat, and fruits.
In a statement on Thursday, October 30, the Bangko Sentral ng Pilipinas (BSP) said it projects the inflation rate for October 2025 to fall within 1.4% to 2.2%. Upward price pressures in October are driven by higher prices for rice, fish, and vegetables, increased electricity rates, and the depreciation of the Philippine peso against the US dollar. These pressures are expected to be partially counterbalanced by price decreases in oil, meat, and fruits.
“Going forward, the BSP will continue to monitor evolving domestic and international developments affecting the outlook for inflation and growth in line with its data-dependent approach to monetary policy formulation,” the BSP’s statement read.
On October 7, the Philippine Statistics Authority said the country’s headline inflation in September declined to 1.7% from 1.5% in August. The current inflation rate is the same as the headline inflation for the first nine months of 2025, which is also 1.7%. It is below the government’s inflation target range of 2% to 4%.
On October 9, the BSP’s monetary board trimmed its benchmark interest rate by another 25 basis points at its October meeting, marking its fourth straight cut this year as inflation remains subdued and economic growth shows signs of slowing.