The Magazine for Asian Investors
The consumer price index (CPI) in Singapore also increased by 4% year-on-year in January. This is the same inflation rate as already seen in December.
In particular, prices for transportation +12.7%, housing & utilities +4.1 and food +2.6% have risen sharply. In contrast, the prices for Clothing & Footwear -4.4% and Communication -2% fell.
In the food sector, prices for oils & fats increased the most, by 7.8%. This was followed by fish and seafood with 6.6% and vegetables with 5.8%. In the transport sector, prices for private transport increased by 14% and other transport services by 18.9%.
By contrast, prices in the clothing and footwear sector fell by 4.9% for footwear and by 4.5% for clothing. In the telecommunications segment, prices for telecommunications equipment fell by 5.5%.