Singapore Inflation Rate Slows to 0.4% in December


Consumer prices in Singapore rose 0.4 percent from a year earlier in December of 2017, easing from a 0.6 percent increase in the prior month. The figure was below market expectations of a 0.55 percent rise, as cost of food and transport went up at slower paces while cost of housing & utilities continued to fall.

Year-on-year, prices went up less than in a month earlier for: food (1.4 percent from 1.5 percent in the previous month). Among food excluding food servicing services, cost increased for most categories : milk, cheese & eggs (0.8 percent); fish & seafood (2.3 percent); oils & fats (2.2 percent); fruits (2.4 percent); sugar, preserves & confectionery (3.7 percent); other food (1 percent); meat (1 percent); non-alcoholic beverages (0.9 percent), and bread & cereals (0.4 percent). Also, among food servicing services, prices went up for all categories: restaurant foods (1.3 percent); fast food (1.5 percent), hawker food including food courts (1.6 percent), and catered food (1.3 percent). Also, prices slowed for transport (1.4 percent from 2.6 percent), largely due to a 2.6 percent rise in private road transport while prices decreased for both other travel & transport (-0.7percent) and public road  transport (-2.1 percent); communication (0.5 percent from 1.5 percent); health (1.9 percent from 2 percent), mainly due to a 2.5 percent rise in medical & dental treatment; recreation & culture (0.4 percent from 0.8 percent), due to a 1.1 percent rise in recreation.
 
On the other hand, cost fell for housing & utilities (-2.3 percent from -2.4 percent, mainly due to a 3.8 percent decline in accomodation); clothing & footwear (-0.2 percent from 0.7 percent).
  
Prices rose faster for household durables & services (1.1 percent from 1 percent, largely due to a 2.5 percent increase in household services & supplies). Also, prices of miscellaneous goods & services rebounded (0.1 percent from -0.4 percent), due to a 1.2 percent rise in personal care and a 2.3 percent increase in other miscellaneous expenditure.
 
Inflation was steady for: education (2.6 from 2.6 percent), due to a 2.6 percent rise in tuition & other fees and a 0.9 percent gain in school textbooks & related study guides.
 
Core consumer prices which exclude costs of accommodation and private road transport, rose 1.3 percent, compared to a 1.5 percent gain in November and below market expectations of a 1.5 percent rise.
 
On a month-on-month basis, consumer prices edged down 0.1 percent, after increasing by 0.6 percent in a month earlier.
 
 
 
 
 

Singapore Inflation Rate Slows to 0.4% in December


Statistics Singapore l Chusnul Ch Manan | chusnul@tradingeconomics.com
1/23/2018 5:52:47 AM