Manila  - The Philippines' inflation rate increased to 9.3 per cent for 2008 as high oil and food prices battered the economy, the government said Tuesday.

The National Statistics Office said the annual rate shot up from 2.8 per cent in 2007, but stayed at the low end of the government's target of between 9 per cent and 11 per cent.

But December inflation eased to 8.0 per cent, the lowest monthly rate in nine months, down from 9.9 per cent in November as food and oil prices declined.

Manila  - Philippine share prices rose 5.43 per cent on Monday, the first trading day of the year, on expectations the US economy will finally start recovering.

The Philippine Stock Exchange's 30-share composite index gained 101.84 points to close at 1,974.69 from 1,872.85 points on December 24, the last trading day in 2008.

A total of 640.93 million shares valued at 1.44 billion pesos (30.44 million dollars) were traded.

Gainers outpaced losers 78 to 16, while 23 issues were unchanged.

Manila  - One communist rebel was killed Saturday in a clash with government troops in an eastern Philippine town, a military report said.

The fighting erupted early Saturday when patrolling troops encountered heavily armed communist guerrillas in Candelaria town in Quezon province, 120 kilometres south-east of Manila.

Government troops also recovered one assault rifle from the slain guerrilla, who has yet to be identified.

Manila - Josie Dequito looks decades older than her actual age. With no teeth, sunken eyes and hollowed cheeks, the 40-year-old mother could easily be mistaken for a 60-year-old.

"Life is really difficult," she said as she prepared assorted goods that she will sell door-to-door all day around San Andres Bukid, a slum village in Manila City. "I have to earn extra because of my big family."

"Sometimes, I get home really, really tired but I still have to take care of my children," she said. "They are still young. My husband helps a lot, but he also has no job right now."

Dequito has 11 children - the eldest, a 19-year-old daughter, the youngest a two-year-old son.

Manila - Injuries caused by rowdy New Year's Eve revelries in the Philippines declined 25 per cent due to intermittent rains and the global economic crunch, the health chief said Thursday.

Health Secretary Francisco Duque said hospitals recorded only 346 cases of New Year's Eve injuries, a sharp decline from 417 cases in the previous year.

Duque said intermittent rains overnight contributed to a decline in the use of fireworks.

General Santos City, Philippines  - Twenty-five people were wounded when a hand grenade exploded at a New Year's Eve party in a southern Philippine city, a regional police chief said Thursday.