Singapore: Inflation rises in December on higher transport costs
January 23, 2013
In December, consumer prices rose 0.7% over the previous month, which was above the 0.1% rise observed in November. According to Statistics Singapore, transport recorded the largest price increase.
As a result of the monthly price increase, annual inflation rose from 3.6% in November to 4.3% in December, which was above market expectations that had inflation edging up to 3.8%. Overall in 2012, inflation averaged 4.6%, which was below 5.2% registered in 2011.
Meanwhile, the Monetary Authority of Singapore's (MAS) annual core inflation measure, which excludes the costs of accommodation and private road transport, eased from 2.0% in November to 1.9% in December. Core inflation averaged 2.6% in 2012, which was above the 2.2% seen in 2011.