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Singapore’s inflation rises 1.1% in July
Singapore’s inflation rises 1.1% in July

High prices of houses, transport and communication pushed Singapore's inflation rate by 1.1 per cent in July. However, city state's Consumer Price Index (CPI), for the first seven months of the current financial year, declined 0.5 per cent during the month as compared to a year ago period, according to the latest data provided by the Department of Statistics on Monday.

Higher electricity tariffs, service and conservancy charges made houses dearer by 1.4 per cent. High car prices and internet subscription fees caused 1.1 per cent increase in transport and communication charges.

Food inflation, that contributes 23 per cent in the index, rose marginally by 1.3 per cent in the reporting period, putting extra burden over common man's pocket. The Department of Statistics said that the CPI for general households rose by 0.8 per during the first half of current financial year.

Decline in prices of petrol, car and electricity, having significant weight in the Consumer Price Index, helped to control further rise in inflation rate. Households in the lowest 20 per cent income group experienced a 1.6-per-cent inflation rate as per the Department of Statistics.