The country’s balance of payments position remained in surplus in the first quarter of 2012 at US$1.2 billion. This was, however, lower by 64.4 percent compared to the US$3.5 billion surplus in the same quarter a year ago, as both the current and capital and financial accounts yielded lower net inflows during the quarter.

The monthly average peso-dollar exchange rate slightly went up to 42.8515 in May from 42.6998 in April.

Year-on–year headline inflation rate slightly declined to 2.9 percent in May from 3.0 percent in April. This was affected by slower annual growth rates in the indices of housing, water, electricity, gas, and other fuels; health; transport; and education.

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