Singapore Government Press Release
Media Division, Ministry of Information and The Arts,
MITA Building, 140 Hill Street, 2nd Storey, Singapore 179369
Tel: 837-9666

 

SINGAPORE CONSUMER PRICE INDEX

(November 1997 – October 1998 = 100)

MARCH 2001

The consumer price index in March 2001 rose marginally by 0.2 per cent over February 2001.

Food prices fell by 0.6 per cent due mainly to cheaper vegetables and seafood.

Costs of transport and communication went up by 0.7 per cent as a result of higher car prices.

Dearer ready-made garments and footwear raised the prices of clothing by 1.7 per cent.

Prices of miscellaneous items rose by 0.9 per cent as a result of dearer cigarettes.

Housing cost fell marginally by 0.1 per cent while costs of education and health care remained stable in March 2001.

The consumer price index in March 2001 rose by 1.8 per cent over March 2000. The rise in March 2001 was attributed mainly to higher housing cost and dearer miscellaneous items and cooked food.

 

CONSUMER PRICE INDEX

(November 1997 – November 1998 =100)

Group

Weights

(%)

Index

% Change

Mar 2000

Feb 2001

Mar 2001

Mar 2001/ Mar 2000

Mar 2001/ Feb 2001

 

All Items

 

Food

Clothing

Housing

Transport & Communication

Education & Stationery

Health

Miscellaneous

 

100

 

28

4

23

18

7

3

17

 

100.6

 

101.4

97.7

99.2

100.5

101.8

101.2

101.4

 

102.2

 

102.3

97.3

103.3

99.8

104.0

104.8

103.5

 

102.4

 

101.7

99.0

103.2

100.4

104.0

104.8

104.5

 

1.8

 

0.3

1.4

4.0

-

2.2

3.6

3.1

 

0.2

 

-0.6

1.7

-0.1

0.7

-

-

0.9

Note : A technical note on the consumer price index is given in Annex I.

Singapore Department of Statistics

April 2001

 

 

 

 

 

 

 

 

 

 

 

ANNEX 1

TECHNICAL NOTE

Concept and Definition

The consumer price index (CPI) is one of the most useful indicators of inflation. It measures the change in the prices of a fixed basket of goods and services commonly purchased by the majority of households. The types and specifications of goods and services in the CPI basket as well as their quantitative proportions are kept constant to ensure that any changes in the index reflect solely price changes.

This CPI series is computed based on the results of the Household Expenditure Survey (HES) conducted from November 1997 to October 1998. For each item, the average price during November 1997 to October 1998 is taken to be 100 index points from which indices of subsequent periods are compared to measure price change. The CPI is compiled on a monthly basis. For longer periods, the index is derived by averaging the monthly indices. Similarly, the whole-year index is calculated by taking the simple average of the 12 months’ indices for the year.

 

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 percentage term is used. This 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. Likewise, the annual inflation rate for any year is computed by comparing the average for the 12 monthly indices with that of the preceding year.