The Consumer Price Index for 2014 is out. The cost of food, tuition went up. Find out what else.
Singapore's Department of Statistics released the Consumer Price Index (CPI) for last year on Friday (Jan 23).
The CPI is used as a measure of consumer price inflation.
It is based on the price changes of a fixed basket of consumption goods and services commonly purchased by households over time.
We break it down for you.
The CPI rose by 0.4 per cent in the second half of last year. This was lower than the increase of 1.7 per cent in the first half of last year.
Overall, the CPI rose by 1 per cent last year.
The CPI for the lowest 20 per cent, middle 60 per cent and highest 20 per cent income groups increased by 1.5 per cent, 1.2 per cent and 0.7 per cent respectively.
The CPI inflation is expected to remain subdued amid anticipated increases in the supply of car COEs and newly-completed housing units.
Tight labour market conditions are expected to persist, stated a joint press release by the Monetary Authority of Singapore and Ministry of Trade and Industry.
Food inflation is expected to continue increasing due to higher prices of regional food supplies.
The current CPI inflation forecast for this year is 0.5 to 1.5 per cent.
But there is uncertainty over global oil prices.
If global oil prices remain at current low levels, CPI inflation will be fall below the forecast ranges.