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[Sun Wukong]

Lower cost of living for Singapore households in 2009
By channelnewsasia.com | Posted: 08 February 2010 1324 hrs
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Singapore: The cost of living was lower for Singapore households during the later part of 2009 compared to the earlier part of the year and the same period in 2008.

According to the Department of Statistics, the consumer price index (CPI) for households during July and December 2009 fell by 0.4 per cent over the same period in 2008.

It was also lower compared with the 0.8 per cent increase seen in the first half of 2009.

The trend was observed for all income groups with the CPI for the lowest 20% down by 0.8 per cent, and the middle 60% income groups experiencing a 0.5 per cent decrease. As for the highest 20% income group, the CPI slipped by 0.1 per cent.

Based on an annual snapshot, the inflation rate for general households for the whole of 2009 was 0.2 per cent, compared to the 6.5 per cent CPI seen for 2008.

The CPI for the lowest 20% and top 20% income groups rose by 0.4 per cent each while that for the middle 60% income group edged up by 0.1 per cent.

The increases in the CPIs for all income groups in 2009 were mainly attributed to higher costs of food and health care. The rise in the CPI for the top 20% income group was also contributed by higher accommodation costs.

However these price increases were partially offset by lower electricity tariffs as well as cheaper petrol and holiday travel.

 

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