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Wednesday, January 22nd, 2020

Singapore Consumer Inflation Slowed in December

by January 23, 2018 General

   By Gaurav Raghuvanshi 

SINGAPORE–Singapore’s consumer inflation slowed in December, largely due to softer private road transport and services prices.

The consumer-price index rose 0.4% in December from the previous year, matching the median estimate in a poll of economists by The Wall Street Journal. The CPI gained 0.6% in November.

Housing and utilities costs, which make up 26.3% of the index, fell 2.3% on year because of continued weakness in the cost of accommodation, though the government said rental rates are now falling at a slower pace.

Food prices, which have a 21.7% weighting in the index, rose 1.4% on year after a 1.5% gain in November due to a smaller increase in non-cooked food prices.

The cost of transportation, which has an index weighting of 15.8%, gained 1.4%.

Write to Gaurav Raghuvanshi at [email protected]