October 16, 2025/Coronation Report

Summary
Headline inflation dropped sharply to 18.02% y/y (–211bps from 20.12% in August), marking the sixth consecutive month of disinflation, largely supported by strong base effects amid favorable supply conditions and the seasonal harvest.

On a month-on-month basis, headline inflation declined slightly to 0.72% (–2bps from 0.74%), after a steeper decline in the previous month. The marginal moderation, despite negative food inflation, reflects sticky core inflation, which offset the sharper food disinflation.
 

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