The 1994-based year-on-year headline inflation rate went up to 3.4 percent in January from 3.1 percent in December. On the other hand, the 2000-based has increased to 3.9 percent in January from 4.1 percent in December.

The Philippine Peso continued to depreciate against the dollar. The exchange rate was noted at its highest (P56.085/US$) at the end of January 2004. For the whole month, the rate averages at P55.526 per US dollar.

The October 2003 Labor Force Survey results recorded a labor force participation rate (LFPR) of 67.1 percent.
The unemployment rate was estimated at 10.1 percent in October this year. Last year’s unemployment rate was 10.2 percent.
The national employment rate was recorded at 89.9 percent in October this year. A year ago, it was estimated at 89.8 percent.

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