Inflation rises 1%
The composite consumer price index (CPI) for August (104.80) grew by 0.99% year-on-year. The rise was attributed to higher prices for eating out and package tours, rising tuition fees, as well as increases in hotel room rates and clothing prices. Yet, the increase was partially offset by falling rentals for dwellings and lower airfares. For the 12 months ended August, the average Composite CPI grew by 0.86% from the previous period, and the price indices of Education (+10.02%) and Household Furnishings & Services (+6.63%) showed notable growth, according to the Statistics and Census Service (DSEC).
