The country year-on-year headline inflation rate declined to 2.5 percent in July from 2.7 percent in June. According to National Statistics Office (NSO), the indices of alcoholic beverages and tobacco; clothing and footwear; housing, water, electricity, gas and other fuels; furnishing, household equipment and routine maintenance of the house; recreation and culture; and restaurant and miscellaneous goods and services recorded slower annual increases during the month. Based on the National Statistics Coordination Board (NSCB) report, out of the country`s 17 regions, fourteen regions posted accelerated growths from 2011 to 2012. Zambonga Peninsula posted the fastest growth among the 17 regions with a robust growth of 12.4 percent in 2012 from a modest growth of 0.1 percent in 2011. This was followed by: Caraga with 10.6 percent; Central Visayas, 9.3 percent; Cagayan Valley, 8.2 percent; and SOCCSKSARGEN with 8.1 percent. Meanwhile, Eastern Visayas contracted by (6.2 percent) in 2012 from 2.1 percent growth in 2011. The other regions that posted decelerated growths were Cordillera Administrative Region (CAR), with 1.0 percent from 1.3 percent; and Central Luzon, with 6.3 percent from 7.1 percent.

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