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The Consumer Price Index (CPI) in Singapore increased 6.5 per cent on-year in 2008

Singapore inflation up 6.5% for ’08 but expectations lower for ’09

Report from Channel NewsAsia:

SINGAPORE: The Consumer Price Index (CPI) in Singapore increased 6.5 per cent on-year in 2008 due mainly to higher costs of food, housing, transport and communications. 

Housing costs rose 12.7 per cent, reflecting higher accommodation prices and electricity tariff while food prices advanced 7.8 per cent. 

Transport and communication costs went up 3.3 per cent due to more expensive petrol and higher taxi fares, despite lower road tax and car prices. 

On a year-on-year basis, the Consumer Price Index (CPI) in December increased by 4.3 per cent compared to a year ago on account of higher housing and food costs. 

Read the full report on Channel NewsAsia.