Singapore inflation in 2015

Infla­tion in Singa­pore fell 0.6% year-on-year in Decem­ber, com­pared to -0.8% in Novem­ber. Core infla­tion, which excludes the cost of accom­mod­a­tion and private road trans­port, rose to 0.3% from 0.2% in Novem­ber.

Private road trans­port cost fell by 1.1% in Decem­ber, com­pared to the 1.7% decline in Novem­ber. Accom­mod­a­tion cost dropped by 3% in Decem­ber, same as the decline in Novem­ber. How­ever, over­all ser­vices infla­tion increased to 0.9% in Decem­ber, up from 0.7% in Novem­ber, due to a faster pace of increase in hol­i­day travel expenses and a smal­ler decline in tele­com­mu­nic­a­tion ser­vices fees. Mean­while, food infla­tion was down to 1.5% last month from 1.6% in Novem­ber, due to the mod­er­a­tion of increase in prices of pre­pared meals such as hawker food.

For the whole of 2015, infla­tion fell by -0.5%, down from 1% in 2014. This is the first decline since 2002. Core infla­tion eased to 0.5% in 2015, com­pared to the 1.9% in 2014.
Core Infla­tion is expec­ted to be between 0.5% and 1.5% in 2016 while over­all infla­tion is pro­jec­ted to aver­age between -0.5% and 0.5% in 2016, accord­ing to MAS and MTI.