Singapore, Singapore (4E) – Singapore’s inflation rate jumped inside December boosted by high housing plus transport fees. The newest information brings total inflation last year to four.6 per cent, lower compared to the 5.2 per cent posted inside 2011.
The rise inside costs was largely driven by accommodation plus private road transport fees, with accommodation gaining 8.5 per cent plus private road transport increasing by 9.3 per cent inside December within the past year.
Out of the total inflation inside December, accommodation plus private road transport bills composed for over two-thirds of the heighten.
Services inflation dropped to 2.5 per cent from 2.9 per cent because a happen of lower telecommunication charges whilst the fees of christmas travel plus health treatment saw moderate increases.
Prices of non-cooked food plus ready food equally eased last month to 1.5 per cent, lower compared to the 1.7 per cent recorded inside November.
Wages are expected to rise this year due to the tightening work marketplace, a few of that will probably be passed about to customer costs.
Imported inflation, meanwhile, is “commonly benign” because weakness inside the international economy continues, according to a statement by the Monetary Authority of Singapore (MAS). The agency furthermore predicts core inflation to range between 2 to 3 per cent this year.
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