Monthly Consumer Price Index, Jun 2013 - Statistics Singapore

SINGAPORE CONSUMER PRICE INDEX(2009 = 100)JUNE 2013GroupALL ITEMSFoodClothing & FootwearHousingTransportCommunicationEducation & StationeryHealth CareRecreation & OthersTABLE 1CONSUMER PRICE INDEX(2009 = 100)Weights(%)% ChangeJun 2013 / Jun 2013 / Jan-Jun 2013/Jun 2012 May 2013 Jan-Jun 2012100 1.8 0.2 2.822 2.0 0.1 1.83 0.6 -2.7 0.825 3.0 0.2 3.316 -1.6 0.9 4.15 -1.4 - -1.37 2.9 - 3.26 4.3 0.5 3.816 3.0 0.3 2.6All Items less Imputed Rentalson Owner-Occupied Accommodation 1All Items less AccommodationMAS Core Inflation Measure84 1.1 0.2 2.280 1.0 0.2 2.268 1.7 - 1.61 A significant share of the CPI Accommodation subgroup is “owner-occupied accommodation (OOA) cost”, which is computedbased on the imputed rental concept under the rental equivalence method. Besides the imputed rentals on OOA, actual rentalspaid on rented homes are included separately under the CPI Accommodation subgroup. Given that imputed rentals on OOA haveno impact on the cash expenditure of most households in Singapore as they already own their homes, “All Items less imputedrentals on OOA” is compiled as an additional indicator.Singapore Department of Statistics23 July 2013For enquiries, please contactLin Chuanyun T (+65) 6332 7709 E lin_chuanyun@singstat.gov.sg

TABLE 2PERCENTAGE CHANGE IN CONSUMER PRICE INDEX AT GROUP AND SUB-GROUP LEVEL(2009 = 100)Group and Sub-groupWeightsJun 2013 /Jun 2012% ChangeJun 2013 /May 2013Jan-Jun 2013 /Jan-Jun 2012ALL ITEMS 10,000 1.8 0.2 2.8FOOD 2,205 2.0 0.1 1.8Food excl prepared meals 851 2.3 - 2.1Rice & other cereals 165 1.7 0.2 1.4Meat & Poultry 141 0.5 0.2 0.5Seafood 134 1.8 -0.9 2.4Dairy Products & Eggs 99 4.3 0.2 3.8Cooking Oils & Fats 18 -2.5 1.2 -2.7Vegetables & vegetable products 107 4.4 -0.6 3.2Fruits 86 3.9 0.2 4.1Sugar, preserves & confectionery 27 0.4 1.8 -Non-alcoholic beverages 42 2.4 1.2 1.3Other food 32 1.2 0.3 1.7Prepared Meals 1,354 1.9 0.2 1.7Hawker food (incl. food courts) 915 1.8 0.2 1.5Fast food 76 0.9 - 0.5Restaurant food 352 2.3 0.1 2.4Catered food 11 1.0 - 0.9CLOTHING & FOOTWEAR 341 0.6 -2.7 0.8HOUSING 2,548 3.0 0.2 3.3Accommodation 2,002 4.8 0.2 5.0Fuel & utilities 357 -4.7 - -3.9Household durables 189 -0.6 0.2 -0.9TRANSPORT 1,553 -1.6 0.9 4.1Private road transport 1,166 -2.1 1.1 5.0Public road transport 366 0.4 - 0.5Other travel & transport 21 1.8 1.1 2.1COMMUNICATION 475 -1.4 - -1.3EDUCATION & STATIONERY 735 2.9 - 3.2Tuition & other fees 598 3.5 - 3.9School textbooks & stationery 72 - - 0.1Newspapers, magazines & other books 65 0.1 - -HEALTHCARE 586 4.3 0.5 3.8Medical treatment 352 4.2 0.2 4.3Dental treatment 48 2.4 - 2.5Proprietary medicine & supplies 106 2.0 0.6 2.3Medical health insurance 80 9.5 1.6 4.1RECREATION & OTHERS 1,557 3.0 0.3 2.6Recreation & entertainment 320 2.4 0.3 2.7Alcoholic drinks & tobacco 136 0.7 0.1 0.7Personal care 222 1.9 0.1 1.5Household services 250 10.2 0.4 8.8Non-durable household goods 71 0.7 -0.4 1.1Personal effects 78 -0.4 -3.4 0.1Hobbies & other miscellaneous expenditure 480 1.3 0.9 0.6ALL ITEMS LESS IMPUTED RENTALS ONOWNER-OCCUPIED ACCOMMODATION 8,441 1.1 0.2 2.2ALL ITEMS LESS ACCOMMODATION 7,998 1.0 0.2 2.2MAS CORE INFLATION MEASURE 6,832 1.7 - 1.6

TABLE 2ACONSUMER PRICE INDEX AT GROUP AND SUB-GROUP LEVEL(2009 = 100)Group and Sub-groupWeightsIndexJun 2012 May 2013 Jun 2013 Jan-Jun 2012 Jan-Jun 2013ALL ITEMS 10,000 112.8 114.6 114.8 112.1 115.3FOOD 2,205 106.6 108.7 108.8 106.5 108.5Food excl prepared meals 851 108.1 110.5 110.5 108.2 110.4Rice & other cereals 165 105.8 107.5 107.7 105.6 107.1Meat & Poultry 141 106.6 107.0 107.2 106.6 107.0Seafood 134 112.4 115.4 114.3 113.4 116.1Dairy Products & Eggs 99 110.1 114.7 114.9 109.8 114.0Cooking Oils & Fats 18 103.4 99.6 100.8 103.7 100.9Vegetables & vegetable products 107 109.6 115.1 114.4 110.6 114.1Fruits 86 106.8 110.7 110.9 106.6 111.0Sugar, preserves & confectionery 27 108.3 106.8 108.7 108.1 108.1Non-alcoholic beverages 42 104.5 105.8 107.0 104.6 105.9Other food 32 106.6 107.6 107.9 105.6 107.4Prepared Meals 1,354 105.7 107.6 107.7 105.5 107.2Hawker food (incl. food courts) 915 105.4 107.1 107.3 105.1 106.7Fast food 76 102.1 103.0 103.0 102.4 102.9Restaurant food 352 107.5 109.9 110.0 107.2 109.7Catered food 11 102.0 103.0 103.0 102.0 102.9CLOTHING & FOOTWEAR 341 99.0 102.4 99.6 101.3 102.1HOUSING 2,548 119.2 122.6 122.9 117.7 121.6Accommodation 2,002 120.1 125.5 125.8 118.4 124.3Fuel & utilities 357 126.3 120.4 120.4 124.8 120.0Household durables 189 96.7 96.0 96.2 96.9 96.0TRANSPORT 1,553 131.6 128.4 129.5 129.6 134.9Private road transport 1,166 140.1 135.7 137.1 137.5 144.4Public road transport 366 105.7 106.2 106.2 105.7 106.1Other travel & transport 21 109.5 110.3 111.5 108.5 110.8COMMUNICATION 475 96.2 94.8 94.8 96.2 95.0EDUCATION & STATIONERY 735 109.2 112.3 112.3 108.7 112.2Tuition & other fees 598 111.2 115.1 115.1 110.6 114.9School textbooks & stationery 72 100.3 100.3 100.3 100.3 100.4Newspapers, magazines & other books 65 100.4 100.5 100.5 100.5 100.5HEALTHCARE 586 108.7 112.9 113.4 108.0 112.1Medical treatment 352 110.9 115.3 115.5 109.8 114.6Dental treatment 48 110.4 113.1 113.1 109.9 112.7Proprietary medicine & supplies 106 106.6 108.0 108.7 106.4 108.9Medical health insurance 80 101.0 108.9 110.6 101.0 105.2RECREATION & OTHERS 1,557 103.7 106.6 106.9 103.9 106.5Recreation & entertainment 320 91.8 93.7 94.1 91.4 93.8Alcoholic drinks & tobacco 136 102.5 103.1 103.2 102.2 102.9Personal care 222 101.3 103.1 103.2 101.6 103.2Household services 250 116.1 127.3 127.9 115.7 125.9Non-durable household goods 71 103.9 105.1 104.6 103.7 104.8Personal effects 78 99.4 102.5 98.9 100.4 100.5Hobbies & other miscellaneous expenditure 480 107.4 107.9 108.8 108.1 108.8ALL ITEMS LESS IMPUTED RENTALS ONOWNER-OCCUPIED ACCOMMODATION 8,441 111.1 112.2 112.4 110.7 113.1ALL ITEMS LESS ACCOMMODATION 7,998 111.0 111.9 112.1 110.6 113.0MAS CORE INFLATION MEASURE 6,832 106.0 107.8 107.8 106.0 107.6

TECHNICAL NOTEANNEX 1Concept and DefinitionThe consumer price index (CPI) is commonly used as a measure of consumerprice inflation. It measures price changes in a fixed basket of consumption goods andservices commonly purchased by the households over time. The selection of goods andservices in the CPI basket as well as their weights are kept constant at the base period toensure that any changes in the CPI reflect only price changes.The weighting pattern for the 2009-based CPI was derived from theexpenditure values collected from the Household Expenditure Survey (HES) conductedfrom October 2007 to September 2008. These expenditure values were updated to 2009,taking into account price changes between 2007/08 and 2009.The CPI is compiled on a monthly basis. For longer periods, the CPI isderived by averaging the monthly indices. For example, the yearly CPI is derived by takinga simple average of the 12 months’ indices for the year.Scope and CoverageThe CPI covers only consumption expenditure incurred by residenthouseholds. It excludes non-consumption expenditures such as purchases of shares,houses, and other financial assets, income and property taxes etc. Resident householdsare defined as households headed by a Singapore citizen or permanent resident.The 2009-based CPI basket covered a total of 6,500 brands.Measurement of Changes in the Consumer Price IndexTo calculate month-on-month change, the difference between the CPI for thespecific month and that for the preceding month expressed in percentage term is used.This measures the change in average prices between the two months and serves as auseful short-term indicator of price movement.To measure the year-on-year change, the CPI for the specific month iscompared with that for the same month of preceding year. Likewise, the annual inflationrate for a specific year is computed by comparing the average for the 12 monthly indiceswith that for the preceding year.

Pricing Indicator for Rented and Owner-Occupied Accommodation IndexFor the computation of the rented accommodation index, actual rental data forthe entire rental market obtained from administrative sources are used. These rental datarefer to the actual rental for all housing units, regardless of when the leases were signed,i.e. including new and renewed leases signed in the period and existing leases signedearlier. This reflects the actual consumption pattern of the population rentingaccommodation as households are paying rentals according to the contract signed, andnot all are paying rental at the prevailing market rates of the period. For the computationof the owner-occupied accommodation index in the CPI, DOS adopts the rentalequivalence method which measures the shelter cost in terms of the expected rental theowner would have to pay if he were a tenant of the premise. The pricing indicator forowner-occupied accommodation is the rental data for the entire rental market.Consumer Price Index for “All Items Less Accommodation” and “All Items LessImputed Rentals on Owner-Occupied Accommodation”Accommodation, one of the sub-groups in the Housing group, comprises“rented and owner-occupied accommodation”, as well as “minor repairs & maintenance”.A significant share of the Accommodation subgroup is “owner-occupied accommodation”cost which is computed based on the imputed rental concept under the rental equivalencemethod. It has no impact on the cash expenditure of most households in Singapore asthey already own their homes. Besides the imputed rentals on owner-occupiedaccommodation, actual rentals paid on rented homes are included separately under theCPI Accommodation subgroup. In addition, under Minor repairs & maintenance, therebates for service & conservancy charges (S&CC) which are given to households livingin HDB flats in different periods of the year result in some volatility in the monthly CPI.Hence, “All Items less accommodation” and “All Items less imputed rentals on owneroccupiedaccommodation” are compiled as additional indicators.Monetary Authority of Singapore’s Core Inflation MeasureThe Monetary Authority of Singapore (MAS) monitors a core inflation measurethat excludes the components of “Accommodation” and “Private Road Transport”.Seasonally-adjusted Consumer Price IndexThe data series on CPI and its major components are seasonally-adjustedusing the X-12 procedure. Seasonal adjustment is the process of estimating and removingseasonal effects from a time series. Users interested in the underlying price trends couldrefer to the seasonally adjusted data series.