Singapore'S Shoes And Clothing Prices Have Fallen 0.8% This Year.

According to the latest statistics released by the Singapore Government Statistics Bureau, Singapore's inflation rate rose by 5.4% in October compared with the same period last year, driven by price increases in housing, food and entertainment expenses, which exceeded 5.2% of local analysts' forecasts. The data show that Singapore's inflation rate has been above 5% for 5 consecutive months, and the inflation rate in September was 5.5%.

If we compare the core inflation rate tracking by the Singapore monetary authority, we will see an increase of 2.3% over the same period last year. Core inflation excludes housing and private land transport costs. According to the statistics released by the Statistics Bureau, the consumer price index (CPI) reflecting inflation in Singapore increased by 5.4% compared with the same period last year. The consumer price index rose 4.1% compared to the same period last year, excluding housing costs. The Statistics Bureau's report points out that although the electricity tariff has been cut down, the cost of housing increased by 9.9% in October because of the increase in the estimated rents of people living in their own homes. Taking account of the fact that home owners do not have to pay rent, they do not constitute a real burden on them.

According to the Bureau of statistics, food prices in Singapore increased by 3.5% over the same period last year due to rising prices of fish, dairy products, eggs, meat, poultry and vegetables. The soaring cost of car ownership certificates and the continuous rise in gasoline prices have led to a 10.5% increase in private land transport costs. In addition, the price increase in education and stationery, medical and leisure fields ranged from 1.3% to 3.2%, while clothing and shoes prices fell by 0.8%, while communications prices fell by 1.7%.

The Singapore monetary authority has raised inflation forecasts twice this year. It expects inflation to be around 5% this year, while inflation pressures will slow down next year, bringing inflation down to 2.5% - 3.5%. Local analysts believe that if the risk of economic growth continues to increase and macroeconomic indicators continue to decline, the Singapore monetary authority will probably reconsider the appreciation rate of the new yuan.