As, electricity, petrol and egg prices have increased in recent months, many Singaporeans have started to feel the pinch in our wallets. Inflation really strikes home when our beloved hawkers can no longer sustain the price increase and raise the price of our neighbourhood kopi and chicken rice. According to the Consumer Price Index – All Items, inflation in February 2022 rose to 4.3% compared to last year and 0.9% compared to last month.
As the Consumer Price Index (CPI) measures the average price changes over time of a fixed basket of goods and services commonly purchased by the resident households, it is a useful indicator of how much more expensive things are becoming in general.
We take a closer look at Singapore’s Consumer Price Index to find out what are the items that are really getting more expensive.
Note: these figures are based on February 2022 CPI numbers with references to January 2022 (as the month-on-month change) and February 2021 (as the year-on-year change).
#1 Petrol And Diesel (Increased by 4% To 6%)
After all the headline news about petrol breaching the $3 mark, it’s no surprise that petrol is one of the things that are getting more expensive.
98-octane petrol reached $3.11 per litre in February 2022 compared to $2.99 in January 2022 and $2.57 in February 2021. This is a jump of 4% in just one month and 21% in a year.
The increase for 95- and 92-octane petrol (the more affordable and popular options for drivers) is steeper over a year. 95-octane petrol was $2.11 per litre a year ago, $2.49 per litre in January 2022 and is $2.60 per litre in February 2022. 92-octane petrol was $2.07 per litre a year ago, $2.45 per litre in January 2022 and is $2.55 per litre in February 2022. This is an increase of 4% in a month and 23% in a year.
With such rapid increases in petrol prices, it is little wonder that taxis and ride-shares are increasing their fees with one-off drivers’ fees and temporary fare increases.
Likewise, diesel has become more expensive. In fact, it is the item that increased the most amongst the 69 items selected consumer items published monthly.
Diesel was $1.67 per litre a year ago, $1.98 per litre in January 2022 and $2.10 per litre in February 2022. This is an increase of 6% in a month and 26% in a year.
#2 Fruits (Increased By 5% For Orange)
The CPI has specific table that tracks the price movement of 69 commonly used goods that households commonly purchase. This includes the prices of fruits like apple, orange, bananas, etc.
Orange have increased the most aside from petrol and diesel in February 2022. In February 2021, the average price of an orange was $0.59. This increased to $0.60 by January 2022 and $0.63 by February 2022. This is an increase of 5% in a month and 7% in a year.
Another commonly consumed fruit, apples have also increased in price. In February 2021, the average price of an orange was $0.44. This increased to $0.46 by January 2022 and $0.47 by February 2022.
Other fruits that have increased in price since February 2021 include grapes (up 7%) and papayas (up 3%).
If you want to save some money, consider buying the fruits that have become less expensive. Pears (less 6%), bananas (less 2%) and watermelon (less 2%) are cheaper than a year ago.
#3 Instant Noodles And Bread (Increased By 3% For Instant Noodles)
Of the staple goods, instant noodles have become more expensive in February 2022. The average price of instant noodles (per 5 packets) was $2.35. This increased to $2.37 by January 2022 and $2.43 by February 2022. This is an increase of 3% in a month and 3% in a year.
While breads have maintained the same prices in February 2022, they are more expensive compared to a year ago. Ordinary white bread increased from $1.74 to $1.80 (up 3%). Wholemeal bread increased from $2.03 to $2.43 (up 5%). Vitamin enriched bread increased the most, from $1.56 to $1.74 (up 12%).
Interestingly, premium thai rice (per 5 kg) has actually become less expensive. The average price was $12.90, down from $13.47 a year ago.
#4 Meats (Increased By 2% For Chilled Duck)
Most meats have maintained their prices in February 2022. Chilled duck, whole chicken and lean pork have increased in price by 2%, 1% and 1% respectively from January 2022.
However, they are more expensive compared to a year ago. Most notably, prices for chilled mutton had increased by 20%, streaky pork by 8%, lean pork by 7% and chicken wings by 6%.
Chilled beef is actually slightly cheaper (less 1%) compared to last year while frozen pork rib bones have maintained the same price.
#5 Eggs (Increased By 2%)
The cost of eggs has recently made the news and this is reflected in the CPI. The average price of eggs has increased by 2% in a month and 11% in a year. A tray of 10 eggs would cost $2.45 in February 2021, $2.67 in January 2022 and $2.73 in February 2022 on average.
#6 Beverages (Increased By 2% For Kopi-O/ Teh-O)
If your neighbourhood coffeeshop has increased its drinks prices, inflation is the reason. On average, beverages have become more expensive.
Non-aerated soft drinks (per 6 packets) have increased in price from the average of $2.49 a year ago, to $2.65 a month ago and $2.70 in February 2022. This is an increase of 2% in a month and 8% in a year.
Beer (per 6 cans) costs $15.42 in February 2022, up from $15.15 in February 2021 and $15.05 in January 2022, an increase of 2%.
Our neighbourhood kopi and teh are also affected by inflation. A cup of Kopi O/ Teh O (coffee/tea without milk) costs on average $1.11, up from $1.09 in January and $1.07 in 2021, an increase of 2% and 4%. Coffee/tea with milk costs $1.22, a 2% increase from $1.21 a month earlier and 4% increase from $1.18 a year earlier.
While aerated soft drinks (per 4 cans) have slightly decreased their prices in January 2022 (dropping 1% from $3.02), they have also more expensive compared to a year ago, increasing by 2% from $2.93 to $3.00.
#7 Hawker Fare (Increased By 2% For Fried Carrot Cake)
Singaporean’s beloved hawker fare did not escape inflation in February. Fried carrot cake and ice kacang both increased by 2% compared to January 2022, while mee rebus, chicken rice and chicken nasi briyani increased by 1%.
Compared to a year ago, all 8 hawker dishes increased in average price by 1% to 5%.
- Fishball noodles: from $3.55 to $3.64, 3%
- Mee rebus: from $3.30 to $3.40, 3%
- Chicken rice: from $3.51 to $3.63, 3%
- Chicken nasi briyani: from $5.73 to $6.04, 5%
- Economical rice (1 meat & 2 vegetables): from $3.38 to $3.43, 1%
- Roti prata (plain): from $1.11 to $1.13, 2%
- Fried carrot cake: from $3.10 to $3.27, 5%
- Ice Kacang: from $2.11 to $2.21, 5%
* This post originally appeared on dollarsandsense.sg