Inflation settled at 4.6 percent in October, slower than the 4.8 percent recorded in August, but faster the 2.5 percent registered in the same month last year, data from the Bangko Sentral ng Pilipinas (BSP) showed.

The October inflation rate brought the 10-month average at 4.5 percent, still above the 2.0 percent to 4.0 percent target band of the central bank.

For October, the BSP projected that inflation would range 4.5 percent to 5.3 percent.

“Inflation is expected to average above the target range of 2-4 percent in 2021 but is projected to ease close to the midpoint of the target range in 2022 and 2023,” BSP Governor Benjamin E. Diokno said.

Source: Manila Bulletin (