Singapore Consumer Inflation Slowed in December
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]