Headline inflation increased slightly from 3.7 percent in September to 3.9 percent in October 2025, remaining within the medium-term range of 3 – 6 percent, but higher than the 1.6 percent recorded in October 2024. The increase in inflation between September and October 2025 was mainly due to the acceleration in the annual price changes of some categories of goods and services, notably Alcoholic Beverages & Tobacco and Transport. This is mainly due to price pressures stemming from the recent adjustment of exchange rate parameters. Meanwhile, price movements were relatively stable for some commodity groups. Similarly, the 16 percent trimmed mean inflation and inflation excluding administered prices increased from 4.2 percent and 4.5 percent to 4.5 percent and 4.8 percent, respectively, between September and October 2025.
Inflation for domestic tradeables increased from 5.4 percent to 6 percent between September and October 2025, mainly due to the rise in prices for alcoholic beverages and certain food items. Similarly, inflation for imported tradables increased marginally from 5.9 percent to 6 percent over the same period, partly due to a rise in vehicle prices. As a result, all tradeables inflation increased from 5.8 percent to 6 percent between September and October 2025. Meanwhile, inflation for non-tradeables increased slightly, from 0.6 percent to 0.7 percent in the same period.