Singapore inflation resurfaces in December
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.
The MAS expects average inflation to be between 0.5% and 1.5% in 2017.
FocusEconomics Consensus Forecast panelists expect inflation of 0.8% in 2017, which is unchanged from last month’s estimate. For 2018, the panel sees average inflation at 1.2%. ■