Singapore Consumer Prices Rise for First Time Since 2014

Consumer prices in Singapore rose in December for the first time in more than two years, adding to signs of recovery in the city-state’s economy.

Lower oil costs and government measures to rein in property values have driven consumer prices down in the trade-dependent economy since November 2014. The Monetary Authority of Singapore, which uses the exchange rate as its main policy tool rather than interest rates, had forecast a pick-up in inflation to between 0.5 percent to 1.5 percent this year. That may give it reason to stick to its neutral policy stance at its next scheduled meeting in April at a time when exports are starting to grow.