# Soaring petrol prices amid Middle East conflict drive highest Philippine inflation in years

- URL: https://talkfuse.com/story/soaring-petrol-prices-amid-middle-east-conflict-drive-highest-philippine-inflation-in-years/
- Published: 2026-11-05T04:23:42+00:00
- Updated: 2026-11-05T05:35:51+00:00
- Original publisher: CNA (publisher lean: Centre)
- Original article: https://www.channelnewsasia.com/asia/philippines-petrol-prices-highest-inflation-war-6526336
- Topics: Business, Economy, Middle East, World

## Key points

- Philippine inflation reached 7.8 per cent in October.
- Transport costs rose 20 per cent, driven by fuel prices.
- Inflation is above the government’s target range.

## Summary

Inflation in the Philippines rose to 7.8 per cent in October, its highest level in 44 months, as soaring fuel prices linked to the Middle East conflict pushed up transport costs. The increase adds pressure on households and businesses, while the country’s weak peso makes imported oil more expensive.

Transport costs rose 20 per cent, the main driver of the monthly increase, and the annual rate so far is 5.6 per cent, above the government’s 2 to 4 per cent target. The figure exceeded analysts’ 7.6 per cent forecast; the central bank recently raised its key rate by 50 basis points to 5.50 per cent, while officials also cited risks from rising energy prices and El Niño’s effects on food supplies.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.