Singapore: Decrease in annual consumer prices remains stable in November
January 4, 2016
In November, consumer prices rose 0.2% over the previous month, which contrasted the 0.4% fall tallied in October and marked a six-month high. According to Statistics Singapore, November’s reading mainly reflected a rise in prices of housing and utilities, which more than offset a fall in prices of healthcare.
Consumer prices fell 0.8% annually in November, which mirrored October’s result. The reading matched market expectations. As a consequence of November’s drop, annual average variation in consumer prices inched down from October’s 0.4% fall to a 0.5% decrease, which marked the lowest value since November 2002.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, fell from 0.3% in October to 0.2% in November.
Author: Eric Denis , Economist