SINGAPORE- Singapore’s key consumer price gauge rose 5.1 percent in December, slightly higher than forecast, official data showed on Wednesday.
The core inflation rate – which excludes private road transport and accommodation costs – was unchanged from the 5.1 percent rise in November. A Reuters poll of economists had forecast a 5 percent increase in December.
Headline inflation eased to 6.5 percent year-on-year in December, from 6.7 percent in November.
For 2022 as a whole, core inflation averaged 4.1 percent, higher than the 0.9 percent recorded in 2021. Meanwhile, headline inflation came in at 6.1 percent last year, up from 2.3 percent in 2021.
The central bank had earlier said core inflation was likely to stay at about 5 percent for the early part of 2023.
It has also projected a core inflation rate of between 3.5 percent to 4.5 percent in 2023, with headline inflation coming in at between 5.5 percent and 6.5 percent.— Reuters
