Singapore prices rose by 3.8% in November, the fastest time in nine years by Reuters
[ad_1]
SINGAPORE (Reuters) – Singapore’s November prices have risen at a record-breaking rate for nearly nine years due to high costs of private transport and services, and the government has also slightly raised its 2021 forecast for the measure.
Overall inflation rose by 3.8%, exceeding the forecast for economists of 3.35% and 3.2% in October. That’s the most since February 2013.
The core inflation rate, the measure of central bank prices, rose to 1.6% year-on-year in November, higher than in January 2019, compared to 1.5% in the previous month. A survey of Reuters economists predicted a 1.5% rise.
Core inflation is projected to average 0.9% by 2021, and headline inflation will be 2.3%, according to a joint statement from the Singapore Monetary Authority and the Ministry of Trade and Industry.
Compared to the previous forecast, core inflation is approaching the top of the 0-1% range and prices are around 2%.
By 2022, the central bank maintained its forecast of key prices at an average of 1.5-2.5% and a rise in core inflation to 1-2%.
Fusion Media or anyone involved with Fusion Media will not be held liable for any loss or damage as a result of relying on the information contained in the data, estimates, charts and buy / sell signals contained in this website. Please be informed that one of the most risky forms of investment possible is the full information on the risks and costs associated with trading in the financial markets.
[ad_2]
Source link
