NCPI Note October 2025
Annual inflation accelerated to 3.6% in Oct '25, driven by rent hikes and slightly higher fuel prices relative to twelve months ago. Rent recorded its quarterly price capturing, translating to a 4.8% y/y increase compared to 3.7% in the previous month. The Transport basket accelerated to 2.1% in Oct '25. Although cooling inflation was observed in vehicle purchases and public transport, petrol/diesel re-entered positive inflation territory due to a base effect. Meanwhile, Food & Non-Alcoholic Beverages recorded its lowest annual inflation rate of the year, at 4.6%. Most key food items, including meat, fish, fruit, and vegetables, showed softer inflation compared to the previous month. Monthly inflation came in at 0.5%.
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