Philippine annual inflation likely eased for a fifth straight month in October d...
FILE PHOTO: Fuel pumps hang at a gasoline station in Metro Manila, Philippines, August 4, 2016. REUTERS/Romeo Ranoco
The median forecast in a poll of 10 economists was for the consumer price index to have risen 0.8% in October from a year earlier, rising at its slowest annual pace in more than three years, and slowing from the previous month’s 0.9%. Annual inflation reached a near-decade peak of 6.7% in September and October last year due to a surge in global oil prices, but it has since declined, allowing the central bank to reverse some of last year’s policy tightening.
Last month, it announced a 100 basis point cut in the banks’ reserve requirement ratio that will take effect in December. That will bring to 400 basis points the total RRR reductions it made this year.
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