Philippines Inflation Hits 5-Month High on Oil Prices and Weather Disruptions

Inflation in the Philippines may have reached its highest level in five months, according to a recent poll of economists. The median estimate suggests that the consumer price index accelerated to 6.8 percent in September.

This would mark a significant increase from the 6.1-percent rate in August and end four consecutive months of easing inflation. The predicted rate is also higher than the Bangko Sentral ng Pilipinas' (BSP) forecast range of 6.4 to 7.4 percent.

Economists cited bad weather, which damaged P4.38 billion worth of agricultural produce nationwide, and higher oil prices as contributing factors to the expected inflation rate. Core inflation, which excludes volatile food and energy prices, may have also picked up last month.