Serious Highest income group benefited the most from lower inflation. Guess the count

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An honorable member of the Coffee Shop Has Just Posted the Following:

According to The Straits Times, July 26, 2016, page A5,

Quote:
Households in the highest 20 per cent income group experienced a 1.1 per cent decline in their consumer price index.

This was larger than the 0.7 per cent dip experienced by the middle 60 per cent, mainly because cars accounted for a larger share of expenditure for those in the higher income group, and car prices have been declining on the back of cheaper certificate of entitilement premiums.

However, he [CIMB Private Bank economist Song Seng Wun] noted that food price inflation might continue inching upwards this year.

The food component of the consumer price index rose 2.1 per cent in the January to June period over a year ago.

"There is that worry that the weather could lead to supply disruptions...Some commodity prices have started to pick up," Mr Song added.




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