Singapore: Inflation rises again in November
December 23, 2011
In November, consumer prices added 0.6% over the previous month, which came in above the 0.4% increase recorded in October. The monthly price rise mainly reflected higher prices for transportation as well as for clothing and footwear. Owing to the strong monthly print, annual inflation increased from 5.4% in October to 5.7% in November, contrasting market expectations that had inflation dropping to 5.3%. As a result, annual average inflation stepped up from 5.0% in October to 5.2% in November. Meanwhile, the Monetary Authority of Singapore's (MAS) annual core inflation measure, which excludes the costs of accommodation and private road transport, inched up from 2.3% in October to 2.4% in November. The MAS expects that inflation will average between 2.5% and 3.5% this year.