# Higher oil, food prices to keep inflation above 8% through year-end

> ANZ Research expects Philippine inflation to rise to 8.4% year-on-year in October, up from 7.2% in September, and to stay above 8% through December. The forecast cites higher global oil prices, rising rice costs and a weaker peso, which reached a record low of P64.17 per dollar on Oct. 28.

- Date: 2026-11-02 · published 2026-11-03T00:12:06.174Z
- Category: macro · region Philippines · magnitude medium
- Page: https://feedsoft.ai/events/76456-higher-oil-food-prices-to-keep-inflation-above-8-through-year-end
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Philippine Peso (PHP per USD)](https://feedsoft.ai/c/USDPHP.md)

## Why it matters

A weaker peso and higher oil raise the cost of imported fuel, feed and food for a net food importer. Rising rice costs and inflation pressure suggest continued demand for imported feed ingredients priced in dollars.

## Read by commodity

- WTI: bullish ▲
- USDPHP: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-11-10 | [Oil prices settle 1% higher on tepid U.S. inflation data \| Reuters](https://feedsoft.ai/events/38852-oil-prices-settle-1-higher-on-tepid-u-s-inflation-data-reuters.md) | -0.2% | -16.8% |
| WTI | 2021-10-15 | [Oil prices rise to three-year high on back of supply deficit forecasts](https://feedsoft.ai/events/44716-oil-prices-rise-to-three-year-high-on-back-of-supply-deficit-forecasts.md) | +1.5% | +0.1% |
| WTI | 2018-05-07 | [Dollar marches to 4-month high as oil rally points to higher inflation - MarketWatch](https://feedsoft.ai/events/65209-dollar-marches-to-4-month-high-as-oil-rally-points-to-higher-inflation.md) | +1.4% | -7.1% |
| WTI | 2020-12-02 | [Canadian dollar notches a 2-year high on higher oil prices \| Financial Post](https://feedsoft.ai/events/49875-canadian-dollar-notches-a-2-year-high-on-higher-oil-prices-financial-post.md) | +2.4% | +8.4% |
| WTI | 2024-04-23 | [Crude oil prices today: WTI above $83 on hopes for interest rate cuts](https://feedsoft.ai/events/30928-crude-oil-prices-today-wti-above-83-on-hopes-for-interest-rate-cuts.md) | +0.3% | -3.2% |

## Sources

- manilatimes.net: https://www.manilatimes.net/2026/11/03/business/top-business/higher-oil-food-prices-to-keep-inflation-above-8-through-year-end/2459970

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.