Inflation continues to ease, totaling 4.5 percent last year

The Composite Consumer Price Index (CPI), which reflects the impact of price changes as a measure of inflation, continued to ease slightly year-on-year in December to 3.73 percent, and was also down from 3.77 percent in November, information from the Statistics and Census Service (DSEC) showed.
The growth in Composite CPI in December 2015 was led by the price indexes of Alcoholic Beverages & Tobacco, Education, and Household Goods & Furnishings, which saw year-on-year rises of 37.85 percent, 8.93 percent and 6.31 percent, respectively.
DSEC attributes this rise to an increase in tobacco tax, higher tuition fees and higher wages for domestic helpers.
At the same time, the price indexes of Clothing & Footwear and Communication registered declines of 2.99 percent and 0.79 percent, respectively.
The inflation rate for 2015, measured by Composite CPI, was 4.56 percent, markedly down from 2014 as it came off a 6.05 percent year-on-year rise. Higher rentals for dwellings and parking spaces, as well as increased charges for dining out, have been attributed as causes for the rate.
For the entire year, the same upward pressures in the price indexes of Alcoholic Beverages & Tobacco (+17.33 percent) and Housing & Fuels (+8.06 percent) contributed to the rise.
On the other hand, falling prices of gasoline and petroleum helped to alleviate inflationary pressures, DSEC says.