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Inflation In July 2022: Things That Increased In Price The Most

Almost all consumer categories have increased in price, except communications (i.e. our telco plans)


Singapore’s inflation reached a new high of 7% in July 2022. MAS Core Inflation (which excludes accommodation and private transport) reached 4.8%. For some Singaporeans, this is just a confirmation of what we already experience in our daily lives, things are getting more expensive, and our wallets are feeling the pinch.

Across most categories, prices have increased across the board. However, communication is a clear exception with prices falling both on a month-on-month and year-on-year basis. This is not unexpected if you have been following our Best SIM-only Plans in Singapore updates. Data plans in general have become cheaper, even as everything else has become more expensive.

Source: SingStat

Read Also: [2022 Edition] Best Unlimited Data Mobile Plans In Singapore (Plus: Which Plan Gives The Most 4G Data Per Dollar?)

As we take a closer look into the inflation data, here are the things that have increased in price the most.

Electricity (Increased by 26.4% Y-o-Y)

Amongst the utilities, Electricity has increased the most at 26.4%. For everyone who is planning to sign up for a new electricity plan, the electricity tariffs have been increasing every quarter and retailers are no longer offering discount off regulated tariff plans. For those of us fortunate enough to have locked into an older OEM plan, those discounted rates are not likely to last when the time comes for renewal.

Refuse Collection and Gas prices have also increased by 16.7% and 12.4%, respectively. Overall, utilities have increased 16.3% with only water supply prices remaining the same.

  % Change Y-o-Y
Utilities & Other Fuels 16.3
   Water Supply 0.0
   Refuse Collection 16.7
   Electricity 26.4
   Gas 12.4

 

Read Also: My OEM Plan Is Expiring: Should I Switch Back To SP Group?

Fees At General Practitioners (GP) Clinics (Increased by 28.6% Y-o-Y)

One of those items that you may not realise have increased in prices is GP Clinic fees. This increased by almost 30% compared to last year. While Singapore has moved to endemic living, the pandemic is still among us with new infections, and even reinfections happening every day. This may also be due to the removal of the PHCP COVID-19 subsidies which capped treatment fee to $10 for respiratory infection treatments.

Regardless, even if you choose to go the public healthcare route, fees at polyclinics have also increased by almost 10%.

  % Change Y-o-Y
Outpatient Services 4.4
   Fees At Polyclinics 9.6
   Fees At General Practitioners (GP) Clinics 28.6
   Fees At Specialist Outpatient Clinics 1.0
   Dental Services 4.1
   Paramedical Services 3.2

 

Read Also: Third National Distribution of ART Kits And Changes To COVID Subsidies Starting From 1 July 2022: 6 Things To Know

Cars (Increased by 29.4% Y-o-Y)

With record COE prices recently, it is not surprising that cars prices have increased (one of) the most. Car prices have increased 29.4%, while motorcycles prices have increased 13.0%. Even existing vehicle owners are not spared the price increases as petrol prices have risen by 21.8%. Overall, private transport increased 22.2%.

Public transport users are also not spared with an overall increase of 8.2%. If you purely only rely on bus and trains, the fares have increased by a smidge at 2.2%. However, if you take point-to-point transport services (such as ridesharing), you would have experienced an increase in price of 16.7%.

  % Change Y-o-Y
Private Transport 22.2
   Cars 29.4
   Motorcycles 13.0
   Petrol 21.8
   Other Private Transport -0.6
Public Transport 8.2
   Bus & Train Fares 2.2
   Point-to-point Transport Services 16.7
   Other Public Transport 6.5

 

Read Also: Cheapest Cars In Singapore That You Can Buy In 2022

Chilled Poultry (Increased by 33.6% Y-o-Y)

Food prices has increased, not just for non-cooked food but also for food services.

Chilled Poultry and Eggs showed the greatest increases at 33.6% and 22.8% Y-o-Y, which is unsurprising given the export ban on Malaysian chicken.

Other categories of food that showed significant increases include Chilled Fish (10.3%), Frozen Fish (10.2%), Biscuits and Cookies (9.4%), Chilled Mutton (8.9%) and Noodles and Pasta (8.6%). We can also expect instant noodle prices to increase in the future as noodle producers increase their prices to keep up with rising cost of wheat. In fact, Thailand has approved its first price increase for instant noodles in 14 years.

  % Change Y-o-Y
Food Excl Food Serving Services 6.1
   Bread & Cereals 4.8
      Rice 0.3
      Flour 3.9
      Bread 5.8
      Noodles & Pasta 8.6
      Biscuits & Cookies 9.4
      Cakes & Pastries 4.2
      Other Cereals 0.4
   Meat 10.5
      Pork, Chilled 1.4
      Beef, Chilled 3.6
      Mutton, Chilled 8.9
      Poultry, Chilled 33.6
      Meat, Frozen 5.9
      Meat Preparations 2.7
   Fish & Seafood 7.7
      Fish, Chilled 10.3
      Fish, Frozen 10.2
      Other Seafood 3.0
      Seafood Preparations 4.2
   Milk, Cheese & Eggs 6.0
      Formula Milk Powder 2.4
      Other Milk & Dairy Products 2.9
      Eggs 22.8

 

Food services have also become more expensive. Prices at Hawker Centres have increased by 7.4% and at Food Courts & Coffee Shops by 6.5%. Catered Food also increased by 6.5%. Restaurants and Fast Food showed the slowest increase in prices at 5.4% and 5.3%, respectively.

  % Change Y-o-Y
Food Serving Services 6.1
   Restaurant Food 5.4
   Fast Food 5.3
   Hawker Food 6.7
      Hawker Centres 7.4
      Food Courts & Coffee Shops 6.5
Catered Food 6.6

 

Read Also: Inflation Watch: Here Are 5 Items That Got Cheaper Despite Core Inflation Rising To A High Of 3.6% In May 2022

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