Singapore: Consumer prices stay flat in November
December 23, 2016
In November, consumer prices in Singapore grew 0.3% over the previous month, contrasting the 0.3% drop recorded in October. According to Statistics Singapore, the reading mainly reflected higher prices for clothing and footwear and for housing and utilities.
Consumer prices were unchanged on an annual basis in November, up from October’s 0.1% decrease. The result matched market expectations and was the highest in more than two years. The annual average variation in consumer prices inched up from October’s minus 0.7% to minus 0.6%.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, recorded a 1.3% increase in November, which represented a larger increase than October’s 1.1% reading and the highest print since February 2015.