Singapore: Inflation inches up in December, exceeding market expectations
January 23, 2019
Consumer prices increased 0.1% over the previous month in December, edging down from the 0.2% uptick recorded in November. According to data released by Statistics Singapore, the rise was primarily caused by higher prices for food, health care and recreation and culture.
Inflation was 0.5% in December, up from November’s 0.3%, and marginally higher than the 0.4% market analysts expected. Moreover, annual average inflation was stable at 0.4% in December.
Meanwhile, the Monetary Authority of Singapore’s (MAS) core inflation measure, which omits the costs of accommodation and private road transport, edged higher to 1.9% in December, as a result of larger increases in the costs of services and retail items. This was up from November’s 1.7% and surpassed market expectations of 1.7%.
Author: Steven Burke, Economist