Price and Price Indices

Accounting Services Price Index

The Accounting Services Price Index (ASPI) measures changes in the prices of accounting and auditing services provided by Singapore-registered accounting companies.

All Items (Consumer Price Index)

Highest level of the Consumer Price Index (CPI), containing all the divisions, groups and classes.

Base Year

The base year is the period with which all the other periods are compared. The base year for the current Consumer Price Index (CPI) is 2024 and the index for 2024 is set equal to 100 points. The base year for Producer Price Indices is as follow:

Cargo Handling Price Index

The Cargo Handling Price Index (CHPI) measures changes in the prices of services provided by Singapore-registered cargo handling companies.

Computer Consultancy and Information Services Price Index

The Computer Consultancy and Information Services Price Index (CISPI) measures the changes in the prices of services produced by Singapore-registered information technology services providers.

Consumer Price Index

The Consumer Price Index (CPI) is designed to measure the average price changes of a fixed basket of consumption goods and services commonly purchased by resident households over time. It is widely used as a measure of consumer price inflation.

Domestic Supply Price Index

The Domestic Supply Price Index (DSPI) monitors the price changes of locally manufactured goods and imports which are retained for use in the domestic economy. It gives an indication of the price trends of goods used in the domestic economy.

Export Price Index

The Export Price Index (EPI) tracks changes in the monthly prices of exported goods. The EPI is also used as price deflators to estimate the volume of international trade and to compile constant price National Accounts estimates.

Freight Forwarding Price Index

The Freight Forwarding Price Index (FFPI) measures changes in the prices for freight transport arrangement on behalf of a shipper, via air, sea and land transportation modes by Singapore-registered freight forwarding companies and non-vessel operating common carriers.

Household

A household refers to (i) a group of two or more persons living together in the same house and sharing common food or other essential arrangements for living; or (ii) a person living alone or a person living with others but having his own food or other essential arrangements for living. Although persons may be living in the same house, they may not be members of the same household.

Household Income Group

Household income group categorises resident households by their monthly household income from all sources (including Imputed Rentals for Housing).

Import Price Index

The Import Price Index (IPI) tracks changes in the monthly prices of imported goods. The IPI is also used as price deflators to estimate the volume of international trade and to compile constant price National Accounts estimates.

Imputed Rentals for Housing (Consumer Price Index)

Imputed Rentals for Housing reflects the costs to homeowners of utilising the flow of services provided by their homes over an extended period of time. Given that the cost of using housing services is not directly observed for homeowners, it is computed based on the imputed rental concept under the rental equivalence method, i.e. proxied by market rentals of similar properties. This provides an estimated rental value for the owned home, as though the homeowner were renting it from themselves. Imputed rentals have no impact on the cash expenditures of most households in Singapore as they already own their homes.

Inflation

A term commonly used to refer to changes in price levels over a period of time. The annual inflation rate for any year is computed by taking the ratio of the CPI for the current year compared with that of the preceding year.

Percent Change in Consumer Price Index

This measures the change in CPI between two periods. For example, the annual inflation rate for a specific year is computed by comparing the average for the 12 monthly indices with that for the preceding year.

Price Change (Consumer Price Index)

The change in the price of a good or service of which the characteristics are unchanged; or after adjusting for any change in quality.

Price Index

A composite measure of the prices of items expressed relative to a defined base period.

Price Index of Industrial Space

The ratio of the current price per square metre compared to that in the 4th Quarter of 2012. It is used to monitor the price movement of industrial properties in Singapore.

Sea Freight Transport Price Index

The Sea Freight Transport Price Index (SFTPI) measures changes in the prices of transporting seaborne freight by Singapore-registered ship operators.

Singapore Manufactured Products Price Index

The Singapore Manufactured Products Price Index (SMPPI) measures the changes in the prices of goods produced by manufacturers in Singapore for sale in the domestic and international markets. It is used as a price deflator of manufacturing output in the compilation of the monthly Index of Industrial Production.

Telecommunications Services Price Index

The Telecommunications Services Price Index (TSPI) measures changes in the prices of telecommunications services produced by Singapore-registered telecommunications services providers.

Warehousing and Storage Price Index

The Warehousing and Storage Price Index (WSPI) measures changes in the prices of services produced by Singapore-registered warehousing and storage companies.

Weights

The measure of the relative importance of each good or service in the basket, that is, their share as a proportion of total household expenditure.