Consumer Price Index in 2007 rose 2.1 per cent

Dear Readers, previously in my blog I've shared with you the impact of inflation on our life. Lately, the Singapore Department of Statistics had released a new data on inflation.

Compared with 2006, the CPI in 2007 rose by 2.1 per cent. The increase reflected partly the 2 percentage point hike in the Goods and Service Tax (GST) in July 2007.Food prices up by 2.9 per cent in 2007 due to dearer cooked food, fresh vegetables, milk products and fruits.Higher taxi fares, car prices and dearer petrol contributed to the 2.0 per cent increase in transport and communication prices.Health care cost rose by 4.1 per cent, reflecting higher charges for daily ward and medical treatment, specialist services, general medical consultation, dental treatment as well as dearer Chinese herbs.

Here are some advices:

- Spend moderately on food; Cut down on dining out

- Be more health conscious as medical care is not cheap these days

- If you are car owners, plan your travelling by taking the least route

- Find ways to increase your income

- To beat inflation, ensure adequate savings are invested to generate yield of 5% or more