Inflation seen hitting 1.1% in Oct

THE country’s inflation is forecast to accelerate to 1.1 percent in October from 0.9 percent in September on account of higher fuel and power prices, an economist said on Tuesday.

In a report, Union Bank of the Philippines (UnionBank) chief economist Ruben Carlo Asuncion said the recent drone attacks on Saudi Aramco’s oil-processing facilities — the largest of their kind in the world — “still [have] an impact on Philippine oil prices.”