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SINGAPORE: The average Singapore household experienced a 0.8 per cent increase in consumer prices in the first half of this year, compared with the same period a year ago.
The Department of Statistics said on Monday that food prices and housing costs were the two main items responsible for the increase in the Consumer Price Index (CPI).
However, the increase was much lower than the 7.1 per cent in the first half of last year.
Households in the lowest 20 per cent income group were the most severely hit, experiencing a 1.6 per cent inflation rate.
The Department of Statistics said the higher inflation rate experienced by the lower income group reflected the relatively higher weights of food and housing in their CPI basket compared to other income groups.
The price increases were moderated by lower petrol and car prices as well as electricity tariffs. The middle 60 per cent experienced an inflation rate of 0.7 per cent. The top 20 per cent saw a 0.9 per cent increase.
Lower prices of petrol and cars - which have higher weights in the CPI baskets of these two income groups - contributed towards the moderation of inflation rates for them.
- CNA/yb
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