Manila  - The Philippines' year-on-year inflation rate jumped to a nine-year high of 9.6 per cent in May due to continuing hikes in food and oil prices, the government said Thursday.

The May index was up from 8.3 per cent in April and 2.4 per cent in the same month last year, according to the National Statistics Office (NSO).

It is the highest inflation rate since January 1999, when the index was at 10.5 per cent.

The spike "was primarily triggered by the continuing higher annual price increases in the heavily-weighted food, beverages and tobacco index," the NSO said.

The food index rose to 14.3 per cent in May from 12 per cent in April.

Other commodity groups, such as fuel, light and water and services, also posted higher inflation in May, the NSO added.

The May index brought to 6.9 per cent the average inflation rate for the first five months of 2008 - already above the government's annual target of between 3.7 per cent and 4.4 per cent in 2008.

Last year, annual inflation averaged 2.8 per cent, a 21-year low, mainly due to the peso's appreciation against the US dollar. (dpa)