23 Sep '11, 6am

Cost of living in Singapore up 5.7% year-on-year

Cost of living in Singapore up 5.7% year-on-year

The consumer price index (CPI) in Aug 2011 rose by 0.7 per cent over Jul 2011, reflecting mainly higher costs of private road transport, accommodation, clothing and footwear as well as recreation. -- ST PHOTO: JOYCE FANG By Lee Su Shyan 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 ...

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

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