Chart of the day: Which prices contribute the most to inflation?

Private transportation costs have had a growing effect on price increases since 2021.

This chart shows the top contributors to the rate of price increases in Singapore.

Source: MAS, MTI estimates

According to this graph from the Singapore Department of Statistics, private transport costs have had a growing contribution to headline inflation since 2021. As of late last year, it has become the largest contributor to price increases.

Other sectors that have affected price increases in the last few months are food, services, and accommodation costs.

The rising costs of electricity, LPG and gas have also affected the overall rate price increases since the latter half of last year.

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Singapore inflation

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