DEPARTMENT OF STATISTICS, SINGAPORE
PRESS RELEASE
SINGAPORE CONSUMER PRICE INDEX
(October 1992 - September 1993 = 100)
AUGUST 1997
The consumer price index in August 1997 rose by 0.3 per cent over July 1997.
Food prices edged up by 0.2 per cent on account of dearer fresh fish and cooked food.
The clothing index advanced by 4.7 per cent, as prices of ready-made garments returned to normal levels after the "Great Singapore Sale" period.
Higher electricity tariffs raised the housing cost by 0.2 per cent.
The education index dipped by 0.1 per cent.
Costs of transport and communication, health care and prices of miscellaneous items remained stable in August 1997.
Compared to the same month a year ago, the consumer price index in August 1997 was 2.3 per cent higher.
CONSUMER PRICE INDEX
(October 1992 - September 1993 = 100)
|
|
|
Index |
% Change |
|||
|
Group |
|
Aug 96 |
Jul 97 |
Aug 97 |
Aug 97/ Aug 96 |
Aug 97/ Jul 97 |
|
All Items |
100 |
107.1 |
109.2 |
109.6 |
2.3 |
0.3 |
|
|
|
|
|
|
|
|
|
Food |
30 |
109.2 |
110.9 |
111.1 |
1.7 |
0.2 |
|
Clothing |
6 |
104.0 |
101.5 |
106.3 |
2.2 |
4.7 |
|
Housing |
23 |
103.1 |
106.0 |
106.2 |
3.0 |
0.2 |
|
Transport & Communication |
16 |
108.9 |
115.3 |
115.3 |
5.9 |
- |
|
Education & Stationery |
6 |
111.4 |
113.0 |
112.9 |
1.4 |
-0.1 |
|
Health |
3 |
108.6 |
112.1 |
112.1 |
3.2 |
- |
|
Miscellaneous |
16 |
106.8 |
106.1 |
106.1 |
-0.7 |
- |
|
|
|
|
|
|
|
|
Note : A technical note on the consumer price index is given in Annex I.
Department of Statistics
September 1997
ANNEX I
TECHNICAL NOTE
Concept
The consumer price index is the most widely used indicator of inflation for consumption expenditure. It measures the average change in prices over time of a fixed basket of goods and services commonly consumed by households. The basket of goods and services is deliberately kept fixed so that changes in the index reflect only price changes uninfluenced by changes in the types of goods and services purchased. This series is based on the fixed basket as determined in the Household Expenditure Survey conducted from October 1992 to September 1993. The average price during this period is taken to be 100 index points against which indices of subsequent periods are compared to measure price changes. The index is compiled monthly.
Measurement of Changes in the Consumer Price Index
To indicate monthly change, the difference between the index of the month and that of the preceding month expressed in per cent is used. This actually measures the change in average prices between the two months and serves as a useful short-term indicator of price movement. For measuring annual changes at one point of time, the index of the month is compared with that of the same month in the preceding year. It gives the change in price level one year apart. To obtain the annual rate of inflation for the year, the average of the twelve monthly indices is compared with that of the preceding year.