Singapore: Prices continue to rise in January
February 23, 2017
In January, consumer prices in Singapore grew 0.2% over the previous month, mirroring December’s reading. According to Statistics Singapore, the reading mainly reflected higher prices for education, clothing and footwear and communication.
Inflation came in at 0.6% in January, up from December’s 0.2%. The result matched market expectations and marked the highest reading since September 2014. The annual average variation in consumer prices inched up from December’s minus 0.5% to minus 0.4%.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, recorded a 1.5% increase in January. This represented a larger increase than December’s 1.2% reading and was the highest print since December 2014.