Singapore inflation accelerates to 3.7% in December

Annual consumer inflation in Singapore surprisingly rose to 3.7% in December from a 25-month low of 3.6% in November, Statistics Singapore reported on Tuesday.

In comparison, market consensus had pointed to a slowdown to 3.5%.

Last month, inflation picked up for transport (3.9% YoY versus 2.8% YoY in November), and for recreation & culture (6.3% YoY versus 5.6% YoY in November).

Prices moderated for miscellaneous goods & services (2.3% YoY versus 2.8% YoY in November), and education (2.6% YoY versus 2.7% YoY in November).

Inflation remained steady for housing & utilities, at 3.8%, and for health care, at 5.1%.

Food inflation was reported at 3.7% in December, or the lowest in 21 months, while decelerating from 4% in November.

Meanwhile, annual core CPI inflation accelerated to 3.3% in December from 3.2% in November, the data showed.