October 31, 2025 | 8:00am
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) said that it projects the inflation rate for October 2025 will fall within the range of 1.4% to 2.2%.
In a statement on Thursday, October 30, the central bank said that upward price pressures in October are driven by several key factors, including higher prices recorded for rice, fish and vegetables, increased electricity rates, and the depreciation of the Philippine peso against the US dollar.
These pressures, however, 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 that 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 also 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.