The Philippines’ inflation climbed to a seven-month high in October, reaching 2.9 percent, up 0.2 percent against the previous month.

According to the National Statistics Office (NSO), in the first ten months of the year, inflation averaged 2.8 percent, still below the Central Bank of the Philippines (BSP)’s full year forecast range of 3-5 percent.

The prices of food and non-alcohol beverages increased to 3.2 percent in October, followed by garment and footwear, 3 percent.

BSP also said that inflation may slow down in the remaining months and is expected to hit 28-2.9 percent this year.-VNA