October Inflation Settles at 2.3%, Maintaining Government Target.
MANILA: Inflation continued to settle within the government’s 2 to 4 percent target despite a slight uptick in October this year. In a briefing on Tuesday, National Statistician Dennis Mapa reported that headline inflation during the month was at 2.3 percent, slightly higher than the 1.9 percent recorded in September this year. Inflation in October last year was higher at 4.9 percent. The latest data brings the national average inflation rate from January to October 2024 to 3.3 percent. According to Philippines News Agency, Mapa indicated that the higher inflation in October was mainly driven by a faster increase in