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SINGAPORE : Singapore's consumer prices rose much faster than expected in July as a hike in the Goods and Services Tax (GST) drove food and transportation costs higher, according to the Department of Statistics.
The consumer price index in July 2007 rose by 2.1 per cent over June 2007.
Housing cost increased by 4.9 per cent on account of higher housing maintenance charges, electricity tariffs, and rented accommodation costs.
Food prices went up by 1.4 per cent mainly due to dearer cooked food, fresh fish, fruits, vegetables and milk powder.
Transport and communication prices moved up by 1.0 per cent, reflecting mainly dearer petrol and, to a smaller extent, higher car prices.
The index for education & stationery rose by 2.1 per cent as a result of higher fees at commercial institutions and universities.
On a seasonally adjusted basis, the consumer price index in July 2007 was 1.5 per cent higher compared with June 2007.
Compared with the same month a year ago, the consumer price index in July 2007 was higher by 2.6 per cent.
For the first seven months of this year, consumer price inflation has averaged 1.0 per cent. - CNA/ch
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