BSP expects lower inflation in Oct

The country’s headline inflation rate continued to ease in October as improved supply conditions resulted in lower food and oil prices, the central bank said in its regular monthly forecast.

“We expect inflation to continue slowing down in October 2014. From the peak of 4.9 percent in July and August and 4.4 percent in September, our latest assessment of inflation pressures indicates sustained easing, averaging between 3.7 percent and 4.6 percent,” Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. said in a text message to reporters on Tuesday.