Philippine annual inflation at 7.2% in September

The Philippine annual inflation rate surged to 7.2% in September, up from 6.1% in August, according to the country's statistics agency. Economists surveyed by Reuters had anticipated inflation to be at 6.6% for the month. The September figure fell within the central bank's forecast range of 6.4% to 7.4%. The rise in inflation was attributed to cost increases in rice, electricity, fuel, and transportation. The core inflation rate, which excludes volatile food and energy prices, stood at 4.7% last month.