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Home >> Business
UPDATED: 20:55, January 23, 2007
Singapore's CPI up 1.0 percent in 2006
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Singapore's consumer price index (CPI) rose by 0.8 in December 2006 over the corresponding month of 2005, and rose 1.0 percent in the whole 2006 over the previous year.

According to the figures released by the Singapore Department of Statistics (SDS) on Tuesday, housing cost increased by 2.7 percent year-on-year in 2006, on account of higher electricity tariffs and housing maintenance charges.

Higher tuition fees at commercial institutions, universities and polytechnics raised the education and stationery index by 1.9 percent.

Food prices moved up by 1.6 percent due mainly to dearer cooked food, fresh fish, pork and sugar.

Reflecting higher daily ward and treatment fees, Chinese physician and dental treatment charges, health care cost went up by 0.9 percent.

Prices of clothing and footwear rose by 0.7 percent because of dearer ready-made garments.

The increase of 0.7 percent in the index for recreation and others was attributed to dearer cigarettes while cost of holiday travel was lower.

Costs of transport and communication fell by 1.5 percent as lower car prices more than offset dearer petrol and higher taxi, train and bus fares.

The CPI is one of the most useful indicators of inflation. It measures the change in the prices of a fixed basket of goods and services commonly purchased by the majority of households.

Source: Xinhua


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