Singapore's poorest hit hardest by rising inflation

Singapore's poorest hit hardest by rising inflation Singapore - Singapore's poorest were hit hardest by rising prices for food, housing and electricity in 2008, as the city-state's inflation climbed to its highest level in 28 years, data published by the Department of Statistics on Monday said.

Singapore's consumer price index (CPI) for general households rose by 6.5 per cent in 2008, the highest level since
1981 when it came up to 8.2 per cent.

It was more than triple the 2.1-per-cent increase of 2007.

For 2008, Singapore households in the lowest 20 per cent income group experienced the highest inflation rate of 7.4 per cent.

The inflation rate for the middle 60 per cent and the top 20 per cent income groups reached 6.4 per cent and 6.1 per cent respectively.

The CPI for the lowest wage earners "rose faster ... due mainly to dearer food as well as increased accommodation costs and electricity tariffs which have relatively higher weights in the CPI for the low income group," the department said. (dpa)

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