Singapore: Inflation resurfaces in December
January 23, 2017
In December, consumer prices grew 0.2% over the previous month, marginally down from the 0.3% increase recorded in November. According to Statistics Singapore, the reading mainly reflected higher prices for recreation and culture and for transport.
Inflation came in at 0.2% in December, up from November’s flat reading. The result slightly overshot market expectations of a 0.1% increase. The annual average variation in consumer prices inched up from November’s minus 0.6% to minus 0.5%.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, recorded a 1.2% increase in December. This represented a smaller increase than November’s 1.3% reading—the highest print since February 2015.