Singapore Inflation Accelerated in November
Consumer prices in Singapore rose slightly faster than expected in November. Data from the Department of Statistics showed that Singapore's consumer price index accelerated by 0.6% year-on-year in November. Economists predicted an increase in inflation by 0.5%. The central bank's core-inflation measure was stable at 1.5% in November.
The growth of the CPI was supported by higher transportation and fuel costs. The transportation cost, which has an index weighting of 15.8%, increased by 2.6%. The cost of housing, which is 26.3% of the index, decreased by 2.4% compared to the previous year.