Inflation eases to 1.5% in December on lower COE premiums
Singapore's inflation eased to 1.5 per cent in December over the same month last year, down from 2.6 per cent in November, the Department of Statistics said on Thursday.
The slower rate of increase was due mainly to a decline in car prices, said a joint statement from the Ministry of Trade and Industry and Monetary Authority of Singapore (MAS) on Thursday.
Private road transport costs decreased by 2.8 per cent in December, following the 3.4 per cent rise in November, as a result of lower Certificate of Entitlement (COE) premiums.
Accommodation costs rose by 2.9 per cent compared to the 3.3 per cent increase in the November, as housing rentals went up at a slower pace.