Edge up 1.9% in October amid food price surge
Headline inflation edged up to 1.9% YoY in October (Sep: 1.8%), matching the level recorded in August and a tad above both our forecast and market expectations of 1.8%
- The uptick was primarily due to higher-than-expected food prices, partially offset by declines in transport and communication costs. On a MoM basis, inflation climbed to a four-month high of 0.2% (Sep: 0.0%).
- Core inflation remained stable at 1.8% YoY with a stagnant growth rate of 0.0% MoM, as increases in core food prices were balanced by a decline in communication cost.
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