Singapore’s inflation continues rising in November

Singapore ’s inflation rose to 2.6 percent in November from 2.0 percent in the previous month, due to price increases in almost all categories.

Tuesday, December 24, 2013 11:12

Singapore ’s inflation rose to 2.6 percent in November from 2.0percent in the previous month, due to price increases in almost allcategories.

According to a joint statementissued by the Monetary Authority of Singapore (MAS) and the Ministry ofTrade and Industry on December 23, accommodation cost rose by 3.3percent year-on-year, private road transport costs by 3.4 percent,services by 2.8 percent, and food by 2.6 percent.

MAS Core Inflation, which excludes the costs of accommodation andprivate road transport, edged up to 2.1 percent in November compared to1.8 percent a month ago due to stronger contributions from services andfood items.

It is expected to rise over the next few quarters and average 1.5-2 percent in 2013 and 2-3 percent in 2014.

The country’s overall headline inflation is projected to vary between2.5 and 3 percent in 2013, and between 2 and 3 percent in 2014.-VNA

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