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Financial News: Singapore Inflation Rises In November

Singapore Inflation Rises In November

12/23/2019 - 02:10:00 (RTTNews)

(RTTNews) - Singapore's consumer price inflation accelerated in November, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Monday.

The consumer price index rose 0.6 percent year-on-year in November, following a 0.4 percent increase in October. This was in line with economists' expectations.

The slowdown was driven by an increase in private road transport inflation and smaller declines in the costs of retail goods and accommodation, even as services inflation eased.

MAS core inflation, which excludes the costs of accommodation and private road transport, held steady at 0.6 percent in November.

On a month-on-month basis, consumer prices rose 0.3 percent in November, reversing a 0.4 percent fall in October. The MAS core CPI fell 0.1 percent in November, after remaining unchanged in October.

The MAS and the ministry forecast core inflation to come within the lower end of the 1-2 percent range in 2019 and average 0.5- 1.5 percent in 2020. Meanwhile, overall inflation is expected to be around 0.5 percent in 2019 and average 0.5-1.5 percent in 2020.

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