S’pore June inflation rises 7.5% on higher food, housing costs

S’pore June inflation rises 7.5% on higher food, housing costs

 

SINGAPORE: Singapore’s consumer inflation stood at a 26-year high in June, rising 7.5 per cent compared with a year ago, according to latest figures from the Department of Statistics.

 

This was due mainly to higher costs of food, housing and transport and communication.

 

Last month’s rate was the same as that recorded for May and April.

 

Overall, Singaporeans paid 9.2 per cent more for food than they did a year ago because of more expensive items such as cooked food, rice, milk products, fresh poultry and vegetables.

 

Housing costs also went up by 13.4 per cent on year because of higher accommodation costs and electricity tariffs.

 

With higher petrol charges and taxi fares, the cost of transport and communications rose 5.1 per cent on year, offsetting the effect of lower car prices and road tax.

 

Those seeking healthcare had to pay about 5.8 per cent more due to increases in hospitalisation fees, charges for medical consultation and specialist services.

 

Excluding accommodation costs, which form one-fifth of the consumer price index, prices rose 6.5 per cent in June compared with a year ago.

 

Adjusted for seasonal variations, June’s consumer price index was 0.4 per cent higher compared with May.

 

Source: Channel NewsAsia