Singaporeans wary of rising cost of living

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For the first time in two years, households in the Republic expect the rate of inflation to rise in the short term, according to a Singapore Management University (SMU) survey - which indicates that Singapore households are wary of possible price increases on essential items, the varsity said.

The one-year-ahead inflation expectations of Singapore households rose to 3.73 per cent in September 2014, SMU announced on Monday (Oct 20), based on the latest quarterly survey for the Singapore Index of Inflation Expectations (SInDEx).

In a press release, SMU said that this is the first rise for both headline rate (or CPI-All Item) and Singapore core inflation rate (excluding accommodation and private transportation expenses) expectations since September 2012. The rise in expectation is mainly due to domestic pass-through price pressures, such as rental and tight labour conditions, added SMU.