Singapore December core inflation picks up to 0.7pc

Singapore’s core inflation rate picked up slightly in December, mainly due to higher services price growth, official data showed on Thursday.

The core consumer price index (CPI) rose to 0.7 percent from last year, versus a 0.6 percent increase in November. This was slightly higher than the 0.6 percent forecast seen in a Reuters poll. The headline consumer price index rose 0.8 percent from a year earlier, slightly higher than estimates, and quickening from November’s 0.6 percent increase.

Core inflation is the Monetary Authority of Singapore’s preferred price gauge for setting monetary policy. It excludes changes in the price of cars and accommodation, which are influenced more by government policies.