Singapore Nov headline prices rise 3.8%, fastest in nine years

Author of the article: SINGAPORE — Singapore’s November headline prices rose by their fastest pace in nearly nine years on higher private transport and services costs, while the government also slightly increased its 2021 outlook for the measure. Headline inflation rose by 3.8%, exceeding economists’ forecast of 3.35% and 3.2% in October. That is the…
Singapore Nov headline prices rise 3.8%, fastest in nine years

Author of the article:

SINGAPORE — Singapore’s November headline prices rose by their fastest pace in nearly nine years on higher private transport and services costs, while the government also slightly increased its 2021 outlook for the measure.

Headline inflation rose by 3.8%, exceeding economists’ forecast of 3.35% and 3.2% in October. That is the most it has risen since February 2013.

The core inflation rate — the central bank’s favored price measure – rose to 1.6% in November on a year-on-year basis, the highest since January 2019, versus 1.5% in the prior month. A Reuters poll of economists had forecast a 1.5% increase.

Core inflation is projected to average 0.9% for 2021 with headline inflation at 2.3%, the Monetary Authority of Singapore and ministry of trade and industry said in a joint statement.

That compared with a previous outlook for core inflation to come in near the upper end of a 0–1% range, and headline prices to be at about 2%.

For 2022, the central bank maintained its forecast for headline prices to average 1.5–2.5% and core inflation to increase further to 1-2%. (Reporting by Aradhana Aravindan in Singapore; Editing by Himani Sarkar)

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Apocalypse now? Canadians turn to cash as a hedge against chaos
Read More

Apocalypse now? Canadians turn to cash as a hedge against chaos

A Bank of Canada report suggests cash has become something to hoard, rather than spend A Bank of Canada survey has found the demand for cash has actually increased. Photo by Brent Lewin/Bloomberg Instead of killing cash, the pandemic might have saved it. Advertisement 2 This advertisement has not loaded yet, but your article continues…
UK Can Build New Power Lines in Half the Time, Top Adviser Says
Read More

UK Can Build New Power Lines in Half the Time, Top Adviser Says

The UK can build transition lines in half the time it now takes as it pushes to speed up the decarbonization of its power supply, the government’s top energy adviser says in a report delivered Friday. Author of the article: Bloomberg News Ellie Harmsworth Published Aug 03, 2023  •  2 minute read Electricity transmission pylons…
Keep your shirt on: Dos and don’ts for that long-overdue update to your LinkedIn profile
Read More

Keep your shirt on: Dos and don’ts for that long-overdue update to your LinkedIn profile

First Hand: Leslie Hughes, LinkedIn profile writer, offers advice on how best to showcase your accomplishments Leslie Hughes, LinkedIn Specialist and Profile Writer, has some tips on what works on LinkedIn profile. Photo by Chris Ratcliffe/Bloomberg If you haven’t updated your LinkedIn since 2015 — seriously, I mean me, I just looked it up —…
China’s factory activity likely contracted more slowly in January
Read More

China’s factory activity likely contracted more slowly in January

BEIJING — China’s factory activity in January is expected to have contracted more slowly than in December, a Reuters poll showed on Monday, with production hampered as workers continued to fall sick after the government dismantled its “zero-COVID” regime.” While the “exit wave” of infections passed through the population and workforce faster than economists had…