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Inflation persists in Singapore

Singapore, Dec 25 (Prensa Latina) The Consumer Price Index (CPI) in Singapore registered a year-on-year increase of 5.1 percent in November, the Monetary Authority and the country's Ministry of Commerce and Industry reported.

According to these entities, the indicator will probably be around 6.0 percent this year due to the ongoing difficulties experienced by global supply chains and the rise in international prices of food, energy and other essential goods and services.

With limited natural resources and highly dependent on imports of fuel and food products, Singapore was one of the nations that suffered the worst from the consequences of the Covid-19 pandemic and the increase in wheat and fuel prices resulting from the Russia-Ukraine conflict.

Although the CPI has fallen in recent months, it will most likely rise again in December due to the end of the year holidays, and will average around 6.0 percent in 2022, local economists consider.


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