Singapore Inflation Up 5% From 2010

Singapore's February consumer price index rose by 5.0 percent compared to a year earlier, says the Department of Statistics.

 

The rise reflects higher costs of transport, housing and food. The cost of transport advanced by 15.2 percent as a result of higher prices of cars and petrol. Housing cost increased by 5.8 percent, arising from higher accommodation costs and electricity tariffs. With dearer prepared meals, vegetables, meat & poultry, seafood, milk products & eggs, rice & other cereals as well as fruits, food prices rose by 2.6 percent. Excluding accommodation costs, the consumer price index went up by 4.5 percent in February 2011 compared with a year ago.

 

On a month-on-month comparison, the consumer price index in February 2011 fell marginally by 0.1 percent over January 2011 as a result of lower cost of transport which more than offset higher costs of housing, food as well as “recreation & others”. Excluding accommodation costs, the consumer price index declined by 0.3 percent.

 

Compared with a year ago, the consumer price index rose. The consumer price index in January-February 2011 was 5.2 percent higher compared with the same period of previous year. Excluding accommodation costs, the consumer price index increased by 4.9 percent during the same period.

 

In February 2011, the Monetary Authority of Singapore (MAS) core inflation measure (which excludes the costs of accommodation and private road transport) rose to 0.3 percent on a month-on-month basis. On a year-on-year basis, the MAS core inflation measure moderated to 1.8 percent, from 2.0 percent in January 2011.

 

 

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