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24-09-11, 07:13
Cost of living in Singapore up 5.7% year-on-year
Published on Sep 24, 2011
By Lee Su Shyan
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_715857.html
Inflation in August jumped more than expected, rising 5.7 per cent compared with a year ago, the Department of Statistics said on Friday.
This was faster than a 5.15 per cent forecast by economists polled by Reuters. Compared with July, inflation inched higher, at 0.7 per cent.
Higher costs of accommodation, private road transport and food were responsible for the year-on-year increase. Accommodation costs reflect a higher imputed rental for owner-occupied homes and does not affect the expenditure of the households. Private road transport costs rose due to the increase in COE premiums.
Clothing and footwear and communication costs were the only two categories that registered year-on-year falls. Excluding accommodation, inflation was 4.4 per cent.
Singapore inflation rate expected to remain high: MAS
Published on Sep 3, 2011
By Aaron Low
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_708755.html (http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_708755.html)
Singapore's inflation rate will remain high in the next few months even though the global economy is expected to slow, said the Monetary Authority of Singapore (MAS) on Friday.
In a quarterly report that looks at the Republic's economic performance for the last quarter, the MAS said that inflation here will stay above 5 per cent for now.
'Inflation is expected to remain elevated at slightly over 5 per cent in the next few months, on account of continued strong increases in accommodation costs, before slowly trending down towards the end of the year,' said MAS.
The high costs of buying cars will also add to the upward pressure on the consumer price index, a basket of commonly used goods and services used to measure inflation, said MAS.
var subrenderfile="/Subscription/Breaking+News/Singapore/Story/STIStory_708755.html";
But it is maintaining its inflation forecast of 4 per cent to 5 per cent for the full year.
Core inflation, which excludes accommodation and private road transport costs, is likely to be between 2 per cent to 3 per cent this year, it said.
Published on Sep 24, 2011
By Lee Su Shyan
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_715857.html
Inflation in August jumped more than expected, rising 5.7 per cent compared with a year ago, the Department of Statistics said on Friday.
This was faster than a 5.15 per cent forecast by economists polled by Reuters. Compared with July, inflation inched higher, at 0.7 per cent.
Higher costs of accommodation, private road transport and food were responsible for the year-on-year increase. Accommodation costs reflect a higher imputed rental for owner-occupied homes and does not affect the expenditure of the households. Private road transport costs rose due to the increase in COE premiums.
Clothing and footwear and communication costs were the only two categories that registered year-on-year falls. Excluding accommodation, inflation was 4.4 per cent.
Singapore inflation rate expected to remain high: MAS
Published on Sep 3, 2011
By Aaron Low
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_708755.html (http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_708755.html)
Singapore's inflation rate will remain high in the next few months even though the global economy is expected to slow, said the Monetary Authority of Singapore (MAS) on Friday.
In a quarterly report that looks at the Republic's economic performance for the last quarter, the MAS said that inflation here will stay above 5 per cent for now.
'Inflation is expected to remain elevated at slightly over 5 per cent in the next few months, on account of continued strong increases in accommodation costs, before slowly trending down towards the end of the year,' said MAS.
The high costs of buying cars will also add to the upward pressure on the consumer price index, a basket of commonly used goods and services used to measure inflation, said MAS.
var subrenderfile="/Subscription/Breaking+News/Singapore/Story/STIStory_708755.html";
But it is maintaining its inflation forecast of 4 per cent to 5 per cent for the full year.
Core inflation, which excludes accommodation and private road transport costs, is likely to be between 2 per cent to 3 per cent this year, it said.