The Bangko Sentral ng Pilipinas (BSP) expects inflation in October 2025 to fall within the 1.4% to 2.2% range, remaining below the government’s 2% to 4% target band.

According to the central bank, upward price pressures during the month likely stemmed from higher costs of rice, fish, vegetables, and electricity, as well as the continued depreciation of the peso, which reached an all-time low on Tuesday. These factors, however, are expected to be partially offset by lower prices of oil, meat, and fruits.

If realized, the projection would mark one of the lowest inflation readings of the year, signaling further easing in consumer price growth amid moderating global commodity prices and improved domestic food supply.

The BSP said it will continue to closely monitor both domestic and global developments that could influence the inflation and growth outlook. The central bank reiterated its data-dependent approach to monetary policy, emphasizing that decisions on interest rates will be guided by evolving economic indicators.