Singapore CPI Up 0.6% in November, Beating Forecasts
By Saurabh Chaturvedi
SINGAPORE–Singapore’s consumer prices rose at a slightly faster pace than expected in November on higher transportation and fuel costs.
The consumer-price index rose 0.6% year over year, compared with the median estimate of a 0.5% gain forecast by seven economists polled by The Wall Street Journal and October’s 0.4% advance.
Housing costs, which make up 26.3% of the index, fell 2.4% from a year ago, data released Tuesday by the Department of Statistics showed.
Food prices, which have a 21.7% weighting in the index, rose 1.5%, the data showed. The cost of transportation, which has an index weighting of 15.8%, gained 2.6%.
The central bank’s core-inflation measure, which strips out private road transportation and accommodation costs, was stable at 1.5% in November.
Write to Saurabh Chaturvedi at [email protected]