Singapore Inflation Rate Accelerates to 2.6% in November


In November of 2013, Singapore's annual inflation rate edged up to 2.6 percent from 2 percetn in October. This increase largely reflected higher accommodation cost, which accounted for around half of the 0. 6 percent pickup in overall inflation. Price increases in all the other major CPI categories also inched up slightly in part due to the low base last year.

Accommodation cost rose by 3.3 percent, higher than the 1.9 percent increase in October when the disbursement of Service & Conservancy Charges rebates to HDB households had helped to lower the cost of “minor repairs and maintenance”.
Meanwhile, the increase in imputed rentals on owner-occupied accommodation  moderated slightly in November.

Private road transport costs were up by 3.4 percent following an increase of 2.7 percent in October, mainly as a result of the rise in COE premiums.

Petrol pump prices were also higher compared to a year ago. Services inflation increased to 2.8 percent in November from the 2.5 percent recorded in October, led by pricier holiday travel and household services.

Food inflation inched up to 2.6 percent in November from 2.5 percent a month ago, primarily due to price increases for non-cooked food items.

MAS Core Inflation, which excludes the costs of accommodation and private road transport, picked up to 2.1 percent in November compared to 1.8 percent a month ago. This was due to stronger contributions from services and food items, in part driven by low base effects.

On a monthly basis, prices accelerated to 0.7 percent, after rising 0.2 percent in October.

Singapore Inflation Rate Accelerates to 2.6% in November


Ministry of Trade and Industry | Joana Taborda | joana.taborda@tradingeconomics.com
12/23/2013 10:05:44 AM