Singapore's CPI up 0.3 pct in January

Singapore's consumer price index (CPI) rose by 0.3 percent in January over the corresponding month of last year, according to the figures released by the Singapore Department of Statistics (SDS) on Friday.

The price index for clothing and footwear grew 0.3 percent in January year-on-year and that for food grew 1.6 percent.

The CPI for health care, education and stationery both grew 1.0 percent in the first month of this year, while the recreation and others price index rose by 0.9 percent.

Housing cost dropped by 0.7 percent year-on-year in January while the CPI for transport and communication contracted by 1.3 percent in the same month.

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