The monthly average peso-dollar exchange rate continued to go down to 40.7295 in January 2013, from 41.0067 in December 2012. The national headline inflation rate went up to 3.0 percent in January 2013, from 2.9 percent in December 2012. According to the National Statistics Office, this can be attributed to the double-digit annual growth in the beverages and tobacco index and higher annual increases in the indices of furnishing, household equipment and routine of the house as well as health and communication. Similarly, the core inflation rate went up to 3.6 percent in January 2013, from 3.3 percent in December 2012. The annual growth rate of Gross Domestic Product (GDP) grew by 6.6 percent in 2012, significantly higher than the 3.9 percent in 2011. Also, the Gross National Income (GNI) rose by 5.8 percent in 2012 from 3.8 percent in 2011. According to NSCB, the remarkable performance is due to the robust growth of the Services sector led by Trade and Real Estate, Renting & Business Activities, complemented by the sturdy performances of the Manufacturing and Construction sectors. The Philippine Stock Exchange index ended at 5,812.7 in December 2012. This is higher by 3.1 percent from November at 5,640.5.

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