Singapore's consumer prices remained stable in December, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Monday.
The consumer price index remained unchanged year-on-year in December, after a 0.1 percent decline in November. Economists had expected a 0.1 percent fall.
This latest consumer prices outcome was largely due to a rise in prices for private transportation cost.
MAS core CPI, which excludes the costs of accommodation and private road transport, fell 0.3 percent annually in December, following a 0.1 percent decrease in the preceding month. Economists had expected a 0.1 percent fall.
In 2020, both MAS core CPI and consumer prices declined 0.2 percent from a year ago.
The statistical office expects external inflation to rise in the coming quarters, amid a recovery in global oil prices.
Both MAS Core Inflation and CPI-All Items inflation are forecast to average -0.2 percent this year, the statistical office and MAS said.
Next year, MAS Core Inflation is expected to average 0-1 percent, while the CPI-All Items inflation is projected to be between -0.5 and 0.5 percent.
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