Committee Against
GST Profiteering says price changes moderate
By Foo Siew Shyan, Channel NewsAsia | Posted: 04 July 2007 1954
hrs
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SINGAPORE : Price changes since last November's announcement of the
GST increase has been generally moderate, according to the
Committee Against GST Profiteering (CAP).
It said that since last November to May this year, the Consumer
Price Index went up by 0.5 percent.
Food prices, however, went down by 0.3 percent during the first
five months of this year.
Likewise, prices of non-cooked food went down by 1 percent on
average.
The biggest decrease was in sugar, which saw prices drop 12
percent.
But there were price hikes in this group too.
Items that saw the biggest increase were cooking oils,
non-alcoholic beverages and dairy products, which rose 3
percent.
As for cooked food in restaurants or hawker centres, prices
increased marginally by 0.3 percent since the start of 2007.
A survey on hawker food conducted last month also found that fewer
than 1 percent of stalls had increased prices.
The committee said it is encouraged by the findings and believes
competition will continue to keep prices of hawker food
stable.
It is also encouraging consumers to shop wisely and exercise their
choice when making purchases, such as opting for lower cost house
brands at supermarkets.
As for merchants, the committee said it has advised them not to
take advantage of the GST hike to raise prices. - CNA /ls
Here's my question, isn't the PAP the main gst profiteerer?
So should the Finance Minister be arrested and forced to resign
over this?
*presses laugh button*
