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Inflation hits poorest 20% twice as hard
Tue, Aug 25, 2009
The Straits Times
By Joyce Teo
SINGAPORE's poorest 20 per cent were hit twice as hard by inflation than better off households during the first half of the year, new Government figures show.
Largely because of rising food and housing prices, the low-income group experienced inflation at 1.6 per cent in the six months to June, compared to 0.7 per cent for the middle 60 per cent and 0.9 per cent for the top 20 per cent of households.
But these price rises are well down on the levels seen just a year ago.
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Inflation and you
The average household saw a 0.8 per cent inflation rate in the first half of the year, compared with 7.1 per cent in the same period last year.
Housing costs dropped 1.3 per cent - largely down to cheaper electricity - while transport and communications costs fell by 3 per cent, mainly because of petrol price falls, in July this year compared with July last year.
Full-year inflation should come in at between -0.5 per cent and 0.5 per cent, the Monetary Authority of Singapore predicts.
For more The Straits Times stories, click here.
Inflation hits poorest 20% twice as hard
Tue, Aug 25, 2009
The Straits Times
By Joyce Teo
SINGAPORE's poorest 20 per cent were hit twice as hard by inflation than better off households during the first half of the year, new Government figures show.
Largely because of rising food and housing prices, the low-income group experienced inflation at 1.6 per cent in the six months to June, compared to 0.7 per cent for the middle 60 per cent and 0.9 per cent for the top 20 per cent of households.
But these price rises are well down on the levels seen just a year ago.
--------------------------------------------------------------------------------
Inflation and you
The average household saw a 0.8 per cent inflation rate in the first half of the year, compared with 7.1 per cent in the same period last year.
Housing costs dropped 1.3 per cent - largely down to cheaper electricity - while transport and communications costs fell by 3 per cent, mainly because of petrol price falls, in July this year compared with July last year.
Full-year inflation should come in at between -0.5 per cent and 0.5 per cent, the Monetary Authority of Singapore predicts.
For more The Straits Times stories, click here.
