Philippine inflation in October 2025 settled within the Bangko Sentral ng Pilipinas’ (BSP) forecast range of 1.4 to 2.2 percent, reinforcing expectations that price pressures will remain subdued over the medium term, the central bank said Wednesday, November 5, 2025, in a statement furnished to SunStar Davao.
The BSP said inflation is likely to average below the low end of its target this year, largely due to easing rice prices in recent months.
The central bank described its outlook as generally stable, projecting inflation to remain within target through 2027. It expects inflation to settle within the 3 percent ± 1 percentage point range over the medium term and noted that expectations remain well anchored.
The BSP cited possible upside risks from potential electricity rate adjustments and higher tariffs on rice imports, but said these threats appear limited amid stabilizing global commodity prices. “The outlook for inflation is generally benign, remaining well within the target range over the policy horizon,” it said.
The Monetary Board also flagged signs that the country’s economic momentum is slowing, as business confidence weakens amid concerns over public infrastructure spending. It said softer demand likewise reflects lingering uncertainty from the external environment.
The BSP said it will continue to monitor data and reassess the impact of earlier policy adjustments as conditions evolve. “The Monetary Board will continue to review newly available information and reassess the impact of prior monetary actions in light of evolving economic conditions and their implications for inflation and growth,” it said. MLSA