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Singapore CPI -0.5% in 2016

Singapore's all Items CPI inflation rose to 0.2% in December from 0.0% in November, due to a stronger pickup in the cost of private road transport, latest data released by Monetary Authority Singapore and Ministry of Trade and Industry said.

Private road transport cost increased by 1.7% in December, following the 0.2% rise in November, as a result of higher petrol prices and car park fees. Services inflation edged up to 1.6% from 1.5% in November, on a faster increase in holiday expenses.

Food inflation was 2.0% in December, unchanged from the previous month. Price increases for both non-cooked food items and prepared meals were broadly stable.

Accommodation cost fell by 3.8% in December, overall retail goods inflation eased to 0.0% in December from 0.2% in November, on decreasing prices of personal care products following the rise in November.

For the whole year of 2016, CPI-All Items inflation came in at -0.5% for the second consecutive year, the release noted.

- APMR News

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