Philippine annual inflation at 7.2% in September

Philippine annual inflation surged to 7.2% in September, according to the statistics agency, surpassing the 6.1% rate in August, as reported on Tuesday. Economists surveyed by Reuters had anticipated inflation to be around 6.6% for the month. The September figure fell within the bank's forecast range of 6.4% to 7.4%. The agency attributed the inflation increase to higher prices of rice, electricity, fuels, and transport. The core inflation rate, excluding volatile food and energy costs, stood at 4.7% for September.