Inflation in Singapore continued to rise in December
2023.01.25 05:26
Inflation in Singapore continued to rise in December
By Ray Johnson
Budrigannews.com – Official data revealed on Wednesday that the key consumer price gauge in Singapore increased by 5.1 percent in December, slightly exceeding expectations.
The core inflation rate, which excludes private road transportation and lodging costs, remained unchanged from November’s 5.1% increase. An economist survey conducted by Reuters had anticipated a 5% increase in December.
In December, headline inflation decreased from 6.7% in November to 6.5% year-over-year.
Core inflation averaged 4.1% for 2022 as a whole, which was higher than the 0.9% recorded in 2021. In the meantime, headline inflation increased to 6.1% in 2018 from 2.3% in 2021.
Core inflation was predicted to remain around 5% in the early part of 2023, according to the central bank.
In addition, it anticipates a core inflation rate of 3.5 percent to 4.5 percent and headline inflation of 5.5 percent to 6.5 percent in 2023.
