23 Aug '11, 6am

Singapore inflation up 5.4% in July, year-on-year

Singapore inflation up 5.4% in July, year-on-year

Compared to a year ago, the inflation rate or consumer price index increased by 5.4 per cent in July, according to a report released by the Department of Statistics Singapore on Tuesday. -- ST PHOTO: JOYCE FANG By Aaron Low Inflation grew at a faster than expected pace last month, pushed up by rising costs of housing, cars and food. The Consumer Price Index rose 5.4 per cent last month, compared to the July last year. The CPI had risen 5.2 per cent in June. Transport costs saw the biggest jump last month, rising some 11.5 per cent, as the higher costs of owning a car continued to push costs higher. Likewise the red hot property market continued to sizzle, with housing costs rising 9.5 per cent. Food, which accounts for 22 per cent of the CPI, rose 3 per cent. Please enable JavaScript to view the comments powered by Disqus. blog comments powered by Disqus

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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