Consumer prices for Singapore households up 2.1% in 2007
Posted: 24 March 2008 1255 hrs

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SINGAPORE : The inflation rate for general households in Singapore last year was 2.1 percent, compared with one percent in 2006, said the Department of Statistics on Monday.

The top 20 percent income group experienced the highest inflation rate with a 2.3 percent jump in the consumer price index (CPI).

The CPIs for the lowest 20 percent and middle 60 percent income groups rose by 2 percent each.

The Dept added that the increase in the inflation rate was due to higher costs of food, holiday travel, accommodation, higher university tuition fees, taxi fares and petrol.

It also reflected the one-off increase in the GST rate in last July.

However these price increases were moderated by lower electricity tariffs, domestic refuse removal fees and government levy on foreign maids.

There were also more service and conservancy charge rebates in 2007.

For the top 20 percent income group, the higher inflation rate last year was due mainly to increased holiday travel cost as well as car and petrol prices which have relatively larger weights compared to other income groups. - CNA/ch