Food Inflation Eases in Singapore Due to Its Strong Currency
Aug 07, 2012 05:18 AM EDT | By Sharon Robinson
While global food prices are steadily on the rise, Singapore's food inflation seems to have gone down, say reports.
Like Us on Facebook
In the first half of the year 2012, the Consumer Price Index, or the CPI, has shown signs of easing. This is in accordance with studies done by the Retail Price Watch Group, or the RPWG. The prices of many food items are either on the decline, or are fairly stable.
Looking at the average retail prices of selected food items in Singapore, it was observed that the prices of a nine out of 17 food items have declined, while four remained the same and another four increased by less than 1 per cent.
However, instant coffee, carrots, sugar and instant noodles have registered slightly higher prices.
The rather mild inflation is being attributed to the strong Singaporean dollar, the long-term contractual agreements that food importers have with their suppliers or the diversification of food import sources, RPWG said.
The Singapore government offers its people different ways to counter food inflation. The RPWG is advising the citizens to take advantage of these measures.
RPWG added that it would be wise to consider purchasing house-brand items; as such items are comparable in quality to more prominent brands but are often cheaper. Three of RPWG's member supermarkets- NTUC FairPrice, Giant and Sheng Siong- have attested to the fact that house-brands are indeed more economical.
The government also offers cash grants and vouchers, like the GST and the U-Save rebates, to help households deal with the inflation.
The group, led by Mr Lee Yi Shyan, Senior Minister of State for Trade and Industry and National Development, was set up in late February 2011 to keep a close watch on any excessive price increases of daily necessities and anti-competitive behaviour from businesses in Singapore.
The RPWG is currently working with businesses to assure consumers that the food inflation will not lead to a decline in the quality of food, or the availability of more options.
Reality star Bethenny Frankel, who first started out on "The Apprentice: Martha Stewart" and has even been a part of the "Real Housewives" franchise, has had her own brand, Skinnygirl Cocktails, for quite a while now - but rumor has it she might be venturing it into pot in the states where recreational marijuana is legal.
Christie Brinkley was one of the world's most famous supermodels in the time that they started being treated like rock stars, as she reaches older age, the model still looks stunning - and now, the Christie Brinkley diet that sees the top model looking amazing at 60 has been officially released!
Poor sleep condition known as obstructive sleep apnea had been found by researchers to have strong link in developing diabetes. Sleep apnea is a potentially serious sleeping disorder where an individual stops and starts breathing and the person still feels tired even after sleeping full time, according to Mayo Clinic.
For those who love to have a nice glass of wine or beer during the weekends - which is just about everyone or almost -, there's a new way to keep the guessing out of the way you choose what to drink: the Next Glass app chooses drinks according to what you love!
U.S. Consumers, Ready To Accept Genetically Modified, Nanotech Products If It Is Healthy And Safe, New Survey Reveals
A national survey done by the North Carolina State University and the University of Minnesota representatives suggests that most U.S. consumers are ready to accept genetically modified and nanotech products if it is enhanced with nutrition and are safe.
Starbucks Wireless Chargers – Starbucks announced that from Tuesday, there would be 200 stores in the San Francisco Bay Area which count with wireless charging spots.