MANILA, Nov 5 (Reuters): Philippine inflation accelerated to its fastest pace in nearly 14 years in October and the rate is likely to rise further, the statistics agency said on Friday evening (Nov 5), backing expectations the central bank will keep tightening monetary policy.
The consumer price index climbed 7.7% in October from a year earlier, the fastest rise since December 2008, driven by price gains in key commodity groups, particularly food and non-alcoholic beverages. It outpaced the 7.1% median forecast in a Reuters poll.
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