Feb 23, 2010
SINGAPORE'S inflation rose by 0.7 per cent in January from last December, due to higher housing, transport, education and stationery costs. Compared to a year ago, the consumer price index was slightly higher by 0.2 per cent. Excluding accommodation costs, the CPI rose by 1 per cent, according to the Department of Statistics, which released the latest data on Tuesday.
Housing cost moved up by 2.6 per cent last month from December, owing to higher electricity tariffs and service and conservancy charges (S&CC) in January, as the rebates were given in December.
As result of higher prices of cars and petrol, cost of transport climbed by 0.9 per cent. Higher fees at commercial institutions, playgroups and childcare centres raised the costs of education and stationery by 1 per cent.
On a seasonally adjusted basis, inflation in January was 0.4 per cent higher over last December.
Inflation this year is now tipped to come in at between 2 per cent and 3 per cent, down from the 2.5 per cent to 3.5 per cent previously estimated, said the Ministry of Trade and Industry last Friday.
The Monetary Authority of Singapore, which uses its currency rather than interest rates to manage price gains, maintained a no-appreciation stance in its exchange-rate policy in October.
