Singapore's inflation rises to 2.6% in November on higher accommodation costs

Singapore's inflation climbed to 2.6 per cent in November over the same month last year, up from 2 per cent in October. -- ST FILE PHOTO: ALPHONSUS CHERN 
Singapore's inflation climbed to 2.6 per cent in November over the same month last year, up from 2 per cent in October. -- ST FILE PHOTO: ALPHONSUS CHERN 

Singapore's inflation climbed to 2.6 per cent in November over the same month last year, up from 2 per cent in October.

The increase was due mainly to higher accomodation costs, which accounted for around half of the 0.6 per cent pickup in overall inflation, said a joint statement from the Ministry of Trade and Industry and Monetary Authority of Singapore.

Accommodation costs were up 3.3 per cent, higher than the 1.9 per cent increase in October when the disbursement of Service & Conservancy Charges (S&CC) rebates to HDB households helped to moderate price increases.

Private road transport costs increased 3.4 per cent last month, following a 2.7 per cent hike in October, mainly due to the rise in Certificate of Entitlement (COE) premiums. Petrol pump prices were also higher compared with a year ago.

From January to November, prices rose 2.4 per cent across the economy compared with the same period in 2012, according to figures released by the Department of Statistics on Monday.