SINGAPORE: Singapore’s total prices eased to 2. 4 per share next month, but the lowest-income homeowners faced the highest leap of 2. 7 per share, driven by rising prices.
According to figures released by the Department of Statistics ( SingStat ) on Thursday ( Jan 23 ), the consumer price index ( CPI)-all items for general households grew by 2. 4 per share. This is slower than the 4. 8 per cent improve experienced in 2023.
The major contributors to prices in 2024 were the higher costs of accommodation, food, medical and ambulatory services, vacation expenses and bus and coach fares. Charges for additional travel services- which include heat fares and moving services- dropped, SingStat said.
Household income teams are based on regular family income from all resources, including imputed leases on owner-occupied hotel.
The lowest 20 per cent family income party saw all-items prices go away by 2. 7 per share, while the end 60 per cent and highest 20 per share earnings groups experienced an increase of 2. 5 per share and 2. 1 per cent both.
Some factors that drove prices, including food, clinic and ambulatory solutions and higher people transport tickets, had a smaller effect on the highest 20 per cent money group because they made up a smaller share of the group ‘s costs, as compared to that of the other two earnings groups.
However, the highest 20 per cent money party spent a bigger reveal of their expenses on cars, which meant that lower car prices had a larger softening influence on the prices they faced.
Excluding imputed leases on owner-occupied hotel, prices for the lowest 20 per cent, end 60 per cent and highest 20 per cent money organizations went up by 2. 6 per share, 2. 4 per share and 2 per cent both, year-on-year.