Singapore: Decrease in annual consumer prices moderates in December
January 25, 2016
In December, consumer prices recorded zero growth over the previous month, which follows the 0.2% increase tallied in November. According to Statistics Singapore, December’s reading mainly reflected a rise in prices of recreation and culture, which offset a fall in prices of clothing and footwear.
Consumer prices fell 0.6% annually in December, which was above November’s 0.8% drop. The reading slightly overshot market expectations of a 0.7% decrease. Annual average variation in consumer prices remained stable at November’s minus 0.5% in December.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, inched up from 0.2% in November to 0.3% in December.
Author: Eric Denis , Economist