DEPARTMENT OF STATISTICS PRESS RELEASE
SINGAPORE CONSUMER PRICE INDEX
(October 1992 - September 1993 = 100)
NOVEMBER 1998
The consumer price index in November 1998 rose by 0.3 per cent over October 1998. The rise was mainly attributed to dearer food and clothing.
Food prices edged up by 0.3 per cent as a result of dearer vegetables.
Prices of clothing went up by 1.6 per cent due to higher prices of ready-made garments.
Costs of transport and communication and prices of miscellaneous items increased by 0.2 per cent each. Higher car prices and dearer cigarettes were the main causes.
Education index, on the other hand, slipped by 0.2 per cent while housing and health care cost remained stable in November 1998.
Compared to the same month a year ago, the consumer price index in November 1998 fell by 1.5 per cent, the sixth monthly decline.
CONSUMER PRICE INDEX
(October 1992 - September 1993 = 100)
|
|
|
Index |
% Change |
|||
|
Group |
|
Nov 97 |
Oct 98 |
Nov 98 |
Nov 98/ Nov 97 |
Nov 98/ Oct 98 |
|
All Items |
100 |
110.0 |
108.1 |
108.3 |
-1.5 |
0.3 |
|
Food |
30 |
110.9 |
110.6 |
111.0 |
- |
0.3 |
|
Clothing |
6 |
106.0 |
101.4 |
103.1 |
-2.8 |
1.6 |
|
Housing |
23 |
107.4 |
107.4 |
107.4 |
- |
- |
|
Transport & Communication |
16 |
114.3 |
103.6 |
103.9 |
-9.2 |
0.2 |
|
Education & Stationery |
6 |
113.1 |
117.2 |
116.9 |
3.3 |
-0.2 |
|
Health |
3 |
115.1 |
118.4 |
118.5 |
2.9 |
- |
|
Miscellaneous |
16 |
107.2 |
106.1 |
106.3 |
-0.8 |
0.2 |
Note : A technical note on the consumer price index is given in Annex I.
Department of Statistics
December 1998
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.