Singapore's CPI up 5.5% on-year in Dec

SINGAPORE: Singapore's consumer price index (CPI) rose 5.5 per cent on-year in December.


That's down from 5.7 per cent in November.

This is according to data from the Department of Statistics (DOS) released on Wednesday.

DOS said the lower CPI reading was largely due to a smaller increase in the cost of private road transport - which moderated at 12 per cent year-on-year compared to 14 per cent in the previous month.

But housing costs - which was 11 per cent higher during the month - kept inflation elevated.

For the whole of 2011, inflation averaged at 5.2 per cent.

This year, inflation is expected to hover between 2.5 and 3.5 per cent, according to the Monetary Authority of Singapore and the Ministry of Trade and Industry.

- CNA/cc