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Singapore inflation rate at 4-month high of 0.6%

Staff Writer |
Consumer prices in Singapore increased 0.6% from a year earlier in November of 2017, accelerating from a 0.4% rise in the prior month and beating market expectations of 0.5%.


It was the highest inflation since July, as cost of transport increased at a faster pace while prices of food continued to rise.

Year-on-year, prices went up more than in a month earlier for: transport (2.6% from 1.1%), largely due to a 4.1% rise in private road transport and other travel & transport (1.1%); household durables & services (1% from 0.7%, largely due to a 2.3% increase in household services & supplies); recreation & culture (0.8% from 0.7%), due to a 0.9% rise in recreation, a 0.1% increase in newspapers, books&stationery, and a 0.7% rise in holiday expenses; communication (1.5% from 1.0%).

Inflation was steady for: education (2.6%), due to a 2.6% rise in tuition & other fees and a 0.9% gain in school textbooks & related study guides; clothing & footwear (0.7%).

Prices rose less for health (2% from 2.2%), mainly due to a 2.7% rise in medical & dental treatment.

Prices of food rose 1.5%, the same pace as in the previous month. Among food excluding food servicing services, cost increased for all categories: milk, cheese & eggs (0.3%); fish & seafood (1.9%); oils & fats (1.7%); fruits (2.2%); sugar, preserves & confectionery (4.7%); vegetables (2%); other food (1.3%); meat (0.8%); non-alcoholic beverages (1.9%), and bread & cereals (1%).

Also, among food servicing services, prices went up for all categories: restaurant foods (1.1%); fast food (1%), hawker food including food courts (1.6%), and catered food (1.3%).

On the other hand, cost fell for housing & utilities (-2.4% from -2.7%, mainly due to a 3.9% decline in accomodation); miscellaneous goods & services (-0.4% from 0.9%), due to a 1.6% fall in personal care.

Core consumer prices which exclude costs of accommodation and private road transport, rose 1.5%, the same pace as in October and in line with market expectations.

On a month-on-month basis, consumer prices went up 0.6%, after decreasing by 0.3% in a month earlier.


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