Inflation was higher for the rich

And that is because they use cars and petrol, which saw significant price increases.

According to the Department of Statistics Singapore, the inflation rates for the lowest 20%, middle 60% and highest 20% income groups were 3.9 percent, 4.7 percent and 5.6 percent respectively during the first half of 2011.

A government release said, “The increases in the CPIs for all income groups were primarily due to higher car prices, accommodation costs as well as dearer food. These price increases were partially moderated by the removal of television and vehicle radio license fees and lower service & conservancy charges (S&CC) as more rebates for S&CC were given in the first half of 2011 compared to a year ago.”

It explained that the top 20% income group experienced a higher inflation rate compared with other income groups in the first half of 2011, on account of the significant price increases registered for cars and petrol, which have relatively larger weights compared with other income groups.

Consumer price index increased by 5.2 percent in June compared with the same month in 2010.

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