Singapore Consumer Price Index, Aug 2023
The Consumer Price Index (CPI) measures the average price changes over time of a fixed basket of consumption goods and services commonly purchased by the resident households. It measures price movement (i.e., change in prices) but not absolute price level at a point in time. The CPI, compiled on a monthly basis, is widely used as a consumer inflation measure.
The weighting pattern for the 2019-based CPI was derived from the expenditure values obtained from the Household Expenditure Survey conducted between Oct 2017 and Sep 2018, and updated to 2019 values by taking into account price changes between 2017/18 and 2019.