Philippine Inflation Surges to 7.8% in October, Approaching Four-Year High

Inflation in the Philippines accelerated to its highest level in nearly four years during October, driven by rising fuel, electricity, and transport costs amid the prolonged Middle East conflict. The country remains heavily dependent on the region for energy supplies.

Consumer prices rose 7.8% year-on-year last month, marking the fastest pace since February 2023’s 8.6% reading, the Philippine Statistics Authority announced on Thursday. September’s inflation rate stood at 7.2%, while the median forecast from a Bloomberg News survey had predicted 7.6% for October.

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