The Statistics Department of Singapore released its latest Household Expenditure Survey report (2012/13) yesterday.
A snapshots of information captured in mainstream media:
- Average monthly incomes of resident household = $10,503
- Average monthly expenditure of household = $4,724
- Household expenditure increased 4.4% each year from 2007/08 to 2012/13 (5-year period)
- Household income increased 5.3% each year over the same period.
- Inflation rate of 3.1% per year on average over past 5 years.
Breakdown of Household Expenditure
The table below shows the breakdown.
|Housing and related expenditure *||687||14.5%|
|Recreation and culture||399||8.4%|
|Clothing and footwear||156||3.3%|
|* excludes imputed rent of owner-occupied accommodation|
|** includes misc expenditure not accounted above, such as|
|personal care, alcoholic beverages & tobacco.|
Note that the biggest item is food related expenditure at 25% followed by transport expenditure at 17% and then housing & related expenditure at 14.5%. Housing expenditure excludes imputed rent of owner-occupied accommodation (ie only cash spending is considered in housing related expenditure).
No wonder I felt the pain in monthly spending. Food inflation is about 3% so far this year. Bulk of living expenses go into food (25%). For one without employment income, this can be a problem.