The second half of 2022 (2H2022) saw headline inflation for general households increasing by 7.0% on a y-o-y basis, faster than the 5.2% increase seen in the 1H2022. The main contributors to the higher increase were cars, food, accommodation, holiday expenses, electricity, petrol and point-to-point transport services.
The CPI-All Items (or headline inflation) for general households in Singapore rose by 6.1% on a y-o-y basis in 2022, higher than the 2.3% increase reported in 2021. The increase was attributed to the higher costs of cars, food, accommodation, petrol, electricity, holiday expenses and other transport services across all three household income groups.
On the other hand, the largest negative contributor to the households’ respective CPI-All Items inflation rates was telecommunication services.
