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Singapore's CPI up 4.2% year-on-year in November
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14:44, December 24, 2007

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Singapore's consumer price index (CPI) rose 4.2 percent from a year earlier in November, higher than October's 3.6-percent increase and the fastest in 16 years.

According to figures released by the Singapore Department of Statistics (SDS) on Monday, on a seasonally adjusted basis, November's CPI was 0.6 percent higher compared with October.

During the first eleven months of this year, consumer price inflation has averaged 1.9 percent.

Analysts said it was due to rising food and crude oil prices globally.

The CPI for food rose by 5.2 percent in November from a year ago while that of transport and communication increased 5.6 percent.

The CPI for health care and recreation and others also climbed higher, by 6.2 percent and 4.1 percent respectively in the same month.

The education and stationery price index rose by 1.9 percent while housing cost rose by 2.9 percent.

The Singapore government has raised its 2008 inflation forecast to a range of 3.5 to 4.5 percent from 2 to 3 percent.

CPI is one of the most useful indicators of inflation. It measures the change in the prices of a fixed basket of goods and services commonly purchased by the majority of households.

Source: Xinhua




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