The ministry also proposed to add new tobacco products and new equipment as well as trading in online video game services to be subject to excise tax.
As non-consumption expenditures increase, disposable income used for the personal consumption of goods and services decreases.
The paper urges the government to review its energy policies and clarify to the people what steps it will take to address the crisis.
Vietnamese airlines are on the mend but against a backdrop of mounting costs, including fuel.
Analysts Vincent Khoo and Jack Goh say prospects for Genting Singapore are looking good for the year ahead.
Despite the market jitters, Singapore companies continued to post strong results and pay generous dividends.
With prices of beer products expected to go up following a tax hike in April, the local liquor industry is widely expected to raise the prices of soju as well.
On average, the annual income of the top 1 per cent was tallied at 470 million won, 17.7 times that of median income earners.
Bank of Korea governor Rhee Chang-yong stressed the decision was based on fading inflation, at a press conference held after a rate-setting meeting.
Of the food items in these neighbourhood retail stores, vegetables, tubers, cooking bananas and pulses posted the highest inflation rate at 22.45 percent.