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Monday, November 24, 2008

CPI for October 2008 at 6.4%

Singapore's consumer price index (CPI) in October 2008 rose 6.4% as compared to the same month of 2007. As what I expected last month, I mentioned a very likelihood for October's CPI to remain high due to extraordinarily 21% hike in electricity tariff. Housing cost advanced by 16.4% arising from higher accommodation and electricity tariff, making this component the highest as compared to other components.

On a seasonally adjusted basis, the consumer price index in October 2008 was
0.8% higher compared with September 2008.

The consumer price index for the first ten months of 2008 was 6.8% higher compared with the same period of previous year. It seems the inflation rate for year 2008 is still quite high.

Consumer Price Index for October 2008 [via]

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