Monday, December 22, 2008

Singapore's Nov inflation slows to 5.5 pct yr/yr

Singapore's annual inflation slowed to 5.5 percent in November from 6.4 percent in October, helped by a drop in petrol prices, taxi fares and car prices.

Consumer prices fell 0.2 percent after seasonal adjustments month-on-month following a rise of 0.8 percent in October, the Department of Statistics said in a statement on Tuesday.

Singapore's inflation has been on the downtrend since peaking at a 26-year high of 7.5 percent in April, May and June.

Average inflation for the first 11 months of 2008 was 6.7 percent and the government expects the rate of price increases to fall sharply to 1 to 2 percent in 2009.

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