Core inflation inches higher, forecasts up

[SINGAPORE] Inflation rose to 2.6 per cent year-on-year in November, from 2 per cent the previous month, with private-sector economists forecasting higher inflation for next year.

In a statement yesterday, the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) said core inflation - which strips out accommodation and private road transport costs - also picked up pace to 2.1 per cent in November, compared with 1.8 per cent in October.

A higher headline inflation figure in November - marking the first time since March that inflation has risen beyond the 2 per cent level - was generally expected as it had been flagged by MAS and MTI previously.