January 19, 2018 / 11:38 AM / a month ago

Singapore headline CPI seen rising 0.6 percent y/y in December: Reuters poll

SINGAPORE (Reuters) - Singapore’s headline consumer price index (CPI) is expected to have risen in December from a year earlier due to higher transport costs, a Reuters poll showed on Friday.

According to the median forecast in a Reuters poll of 10 economists, the all-items CPI probably rose 0.6 percent in December, unchanged from November.

“Private transport costs increased slightly due to higher vehicle registration fees,” ANZ Bank said in a research note to its clients.

The poll also showed that the Monetary Authority of Singapore’s (MAS) core inflation measure likely rose 1.5 percent in December from a year earlier, again unchanged from the previous month.

“The typical end of year increase in food and other core prices during December is expected to be offset by continued declines in accommodation costs and a slight fall in petrol prices,” ANZ said.

The central bank’s core inflation measure excludes changes in the price of cars and accommodation, which are influenced more by government policies.

In its latest policy review in October, the MAS kept its exchange-rate based monetary policy steady but changed a reference to maintaining current settings for an extended period, a shift that analysts said created room for a tightening next year.

Reporting by Fathin Ungku; Editing by Sunil Nair

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