RTTNews, 23 Oct 2008
Thursday, a report by Singapore's Department of Statistics said consumer prices rose 6.7% year-on-year in September, marking a faster pace than the 6.4% increase in August, and analysts' estimate of a 6.6% rise. However, consumer price inflation remains lower than a 26-year high of 7.5% recorded in each month of the second quarter.
In September, housing showed the fastest rise in prices of 14.6%, mainly due to higher accommodation costs and electricity tariffs. This was followed by an 8.2% increase in the prices of food. Prices of all other sub-groups also increased.
Excluding accommodation costs, consumer prices were up 5.2% in September.
On a monthly basis, consumer prices remained unchanged in September compared with a 0.2% rise in the previous month. Prices of food, housing and recreation increased, but those of transport & communication and education & stationery declined.
Excluding accommodation costs, consumer prices fell 0.1% in the month. Meanwhile, on a seasonally adjusted basis, consumer prices were up 0.1% in September.
In the January- September period, consumer prices rose 6.9% compared with the corresponding period in the previous year.
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