The Philippines has recorded a year-on-year headline inflation of 3.5% at the beginning of the year, up from 3% in December 2010, due to higher annual rates recorded in food, beverages and tobacco (FBT), fuel, light and water (FLW) and services index, according to the National Statistics Office (NSO). Inflation during the same month a year ago was 4.3 percent.
Excluding selected food and energy items, core inflation further slowed down to 3.3% in January from 3.4% in December.
The annual inflation in the National Capital Region (NCR) likewise went up to 3.9% in January from 3.4% in December as higher annual growths were seen in FBT, housing and repairs (H&R) and services index.
Annual inflation in Areas Outside the National Capital Region (AONCR) picked up to 3.4% in January from 2.8% in December due to higher annual price increments registered in FBT, clothing, FLW and services index.