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Friday, 23 September 2011

Steeper rise in CPI for August

SINGAPORE: Singapore's consumer price index (CPI), a measure of inflation, rose a steeper 5.7 per cent in August from a year ago.

The CPI had risen 5.4 per cent in July.

The Department of Statistics (DOS) said this was a result of higher costs of accommodation, private road transport and food.

The higher accommodation cost reflected mainly higher imputed rentals of owner-occupied accommodation which has no impact on the cash expenditure of owner-occupied households.

The higher cost of private road transport was mainly due to the significant increase in Certificate of Entitlement (COE) premiums.

Excluding accommodation costs, the consumer price index was 4.4 per cent higher compared to the same period last year.

Compared to July, the CPI for August rose 0.7 per cent, reflecting mainly higher costs of private road transport, accommodation, clothing & footwear as well as "recreation & others".

On a month-on-month basis, the MAS core inflation measure (which excludes the costs of accommodation and private road transport) was 0.4 per cent in August.

On a year-on-year basis, the MAS core inflation measure was 2.2 per cent.

- CNA /ls

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