Singapore Inflation Rate Decelerates in January


In January of 2014, Singapore’s annual inflation rate inched down to 1.4 percent from 1.5 percent in December last year, due to a more moderate increase in accommodation cost and a larger decline in private road transport cost. On a monthly basis, prices rose 0.1 percent.

Accommodation cost rose by 2.4 percent, compared with 2.9 percent in the previous month, as imputed rentals on owner-occupied accommodation edged up at a slower pace. 

Private road transport cost fell by 3.5 percent in January, following the 2.8 percent drop in December, due to lower COE premiums at the end of 2013. 

Services inflation was slightly higher at 2.9 percent, compared with 2.8 percent in the preceding month, led by a stronger increase in holiday travel cost and pre-school fees. 

Food inflation edged up to 3.0 percent from 2.7 percent in December. This mainly reflected the seasonal uptick in food prices during Chinese New Year.

Inflation as measured by CPI less imputed rentals on OOA was unchanged at 1.2 percent as the decline in private road transport cost was offset by the stronger rise in services fees and food prices. 

MAS Core Inflation, which excludes the costs of accommodation and private road transport, edged up to 2.2 percent from 2.0 percent a month ago, due to higher contributions from services and food prices.  

Singapore Inflation Rate Decelerates in January


Ministry of Trade and Industry | Joana Taborda | joana.taborda@tradingeconomics.com
2/24/2014 9:23:28 AM