FX.co ★ Philippines Breaks Deflation Trend with CPI Uptick in October

The Philippine economy has witnessed a turnaround in its Consumer Price Index (CPI) for the month of October 2024, breaking free from a negative streak. The latest data released on November 5, 2024, reveals that the CPI has moved up to 0.2%, marking a significant shift from the -0.2% recorded in September of the same year.

This shift from a deflationary -0.2% in September to a modest inflationary 0.2% in October is a sign of stability returning to the market. The month-over-month analysis highlights this upward movement, demonstrating that the economy is regaining momentum after experiencing a brief period of price declines.

The positive change in CPI indicates a slight increase in the prices of goods and services, reflecting potentially increasing consumer demand and improved economic conditions in the country. As analysts anticipate further data, this development could pave the way for more robust economic performance in the upcoming months.