23-02-2011, 01:40 PM
Taken from CNA website.
The inflation beast is upon us! Question now is what steps will/can policy makers take to tame the beast?
Also remember that over time, it is the number of burgers (or kopis if you prefer) that one can buy that counts.
Singapore's inflation hits 3-year high
By Jonathan Peeris | Posted: 23 February 2011 1327 hrs
SINGAPORE: Singapore's inflation in January rose to its highest level since December 2008.
Data released on Wednesday by the Department of Statistics (DOS) showed that the consumer price index (CPI) rose by 5.5 per cent on-year.
This is higher than the 4.8 per cent forecast by economists and compared to the 4.6 per cent on-year rise in December last year.
Higher costs in transport, housing and food led to the price hike last month.
The cost of transport increased by 18.4 per cent due to higher car and petrol prices.
Housing cost rose by 5.3 per cent following higher accommodation costs and electricity tariffs.
DOS said excluding housing, the consumer price index went up by a lower 5.3 per cent.
Meanwhile, compared to the previous month, CPI in January rose by 1.6 per cent due to higher costs of transport, housing and food.
Housing cost rose by 2.7 per cent on-month due mainly to higher service & conservancy charges as rebates for these were given in December last year but not in January this year.
Food prices crept up by 0.9 per cent arising from more expensive prepared meals, fresh seafood and vegetables.
Excluding housing, the consumer price index was 1.3 per cent higher from the previous month.
DOS said the 'core inflation' measure tracked by the Monetary Authority of Singapore was 0.0 per cent in January on a month-on-month basis.
On a year-on-year basis, MAS' core inflation measure eased to 2.0 per cent, from 2.1 per cent in December last year.
- CNA/fa
The inflation beast is upon us! Question now is what steps will/can policy makers take to tame the beast?
Also remember that over time, it is the number of burgers (or kopis if you prefer) that one can buy that counts.
Singapore's inflation hits 3-year high
By Jonathan Peeris | Posted: 23 February 2011 1327 hrs
SINGAPORE: Singapore's inflation in January rose to its highest level since December 2008.
Data released on Wednesday by the Department of Statistics (DOS) showed that the consumer price index (CPI) rose by 5.5 per cent on-year.
This is higher than the 4.8 per cent forecast by economists and compared to the 4.6 per cent on-year rise in December last year.
Higher costs in transport, housing and food led to the price hike last month.
The cost of transport increased by 18.4 per cent due to higher car and petrol prices.
Housing cost rose by 5.3 per cent following higher accommodation costs and electricity tariffs.
DOS said excluding housing, the consumer price index went up by a lower 5.3 per cent.
Meanwhile, compared to the previous month, CPI in January rose by 1.6 per cent due to higher costs of transport, housing and food.
Housing cost rose by 2.7 per cent on-month due mainly to higher service & conservancy charges as rebates for these were given in December last year but not in January this year.
Food prices crept up by 0.9 per cent arising from more expensive prepared meals, fresh seafood and vegetables.
Excluding housing, the consumer price index was 1.3 per cent higher from the previous month.
DOS said the 'core inflation' measure tracked by the Monetary Authority of Singapore was 0.0 per cent in January on a month-on-month basis.
On a year-on-year basis, MAS' core inflation measure eased to 2.0 per cent, from 2.1 per cent in December last year.
- CNA/fa