PHILIPPINES POSTS INFLATION SLOWDOWN

PHILIPPINES POSTS INFLATION SLOWDOWN

Consumer-price inflation in the Philippines slowed to a year-on-year 10 percent in January from 12.2 percent in December and 16.6 percent in January 1991, the National Statistical Office reported Wednesday.

A sharp decline in food, beverage and tobacco costs helped bring down the rate, the NSO said.It said prices of rice and meat declined in the fourth week of January

from the previous week, while prices of eggs, fruits and vegetables were unchanged.

Housing and repair costs rose slightly, in line with rents and prices of construction materials.

Service prices also rose slightly, particularly in the cost of personal services such as haircuts, wages for domestic help and medical care, the NSO said.