2.9% Dec. inflation brings annual average to 3.2%

MANILA, Philippines - Higher annual prices of food, beverage and tobacco brought the inflation rate in December at 2.9 percent, slightly higher than the 2.8 percent posted in November, the National Statistics Office reported on Friday.

The figure brings the overall inflation rate at 3.2, lower than the 4.6 percent posted in 2011.

Inflation in the National Capital region went up to 2.8 percent in December from November's 2.6 percent, while price movement in areas outside NCR stayed at 2.9 percent.

NSO said Central Visayas posted the highest average annual inflation rate at 5.1 percent while Ilocos had the lowest at 1.6 percent.

"The annual adjustment in the heavily-weighted food and non-alcoholic beverages index at the national level rose 2.3 percent in December from 2.2 percent in November and alcoholic beverages and tobacco index, 5.1 percent from 5 percent," the state agency reported.