The CPI in December witnessed a of 0.3% on-month, but still surged by 1.24% from the same period from last year.

Throughout the month, the price of food and catering services surged by 0.25% from November, while those relating to housing, electricity, water, fuel, and construction materials declined by 0.38%. In addition, the transport category also suffered a fall of 1.62% in prices, the office noted.

Last year saw prices of some groups of commodities change due to complicated developments relating to the COVID-19 pandemic and the long-term impact of social distancing measures, factors which led to a growing demand for grain food and foodstuff at certain points.

However, local authorities have swiftly carried out programmes aimed at ensuring the continued flow of goods and price stabilisation.

The Statistics Office added that State policies and moves by businesses to assist pandemic-hit consumers, such as cutting down power and water prices, reducing or exempting school fees, and lowering housing rent have also supported the price control over the reviewed period.