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Thứ sáu, ngày 1 tháng 11 năm 2024
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Ngày 27/12/2011-22:04:00 PM
Singapore inflation remains high at 5.7 pct in Nov.
The consumer price inflation in Singapore remained stubbornly high in November, while manufacturing output fell.

The inflation in November was at 5.7 percent year on year, higher than the market expectations, according to statistics released by the Department of Statistics on Friday.

The inflation was mainly attributable to higher costs of housing, private transport and recreation costs.

The housing costs rose by 10 percent year on year due to more expensive accommodation and higher electricity tariffs. Transport costs rose 11.6 percent as the prices went higher for the car ownership certificates, which are required to own cars in Singapore, and petroleum.

Food prices went up 3.6 percent year on year in the month.

After adjusting for seasonal factors, the consumer price index increased by 0.6 percent month-on-month.

Excluding transport and accommodation, the core inflation monitored by the Monetary Authority of Singapore rose by 2.4 percent year on year.

Meanwhile, statistics released by the Economic Development Board showed that the manufacturing output fell by 9.6 percent year on year. Excluding the biomedical sector, the fall would be 13.5 percent.

The electronics cluster posted a decline of 30.1 percent year on year due to weak demand for semiconductors and data storage. The output was also lower as the supply chain was affected by the flood in Thailand.

The biomedical, precision engineering and chemicals also posted declines of 0.6 percent, 5.2 percent and 5.4 percent respectively.

From January to November, electronics output fell 12.4 percent year on year. Analysts had said that the weakness of the electronics cluster may carry on into the first half of next year.
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