Slower Philippine inflation in September gives room for rate cuts; inflation expected to stay at 3.2% this year

MANILA (Reuters): Philippine annual inflation accelerated at its slowest rate in more than four years in September due to a slower rise in food prices and downtrend in transport costs, giving the central bank room to cut interest rates further.

The consumer price index (CPI) rose 1.9% in September from a year earlier, the smallest increase since May 2020. It was also less than the previous month's 3.3% print and below the 2.5% forecast in a Reuters poll.