December 21, 2017 / 6:14 AM / a year ago

Singapore's November headline CPI seen rising 0.5 percent year-on-year: Reuters poll

A woman shops for shoes in Singapore April 24, 2017. REUTERS/Edgar Su

SINGAPORE (Reuters) - Singapore’s headline consumer price index is expected to have risen in November from a year earlier, a Reuters poll showed, with the pace seen edging up slightly, partly due to higher oil prices.

According to the median forecast in the Reuters poll of 13 economists, the all-items consumer price index (CPI) likely rose 0.5 percent year-on-year in November, after rising 0.4 percent in October.

The poll also showed that the Monetary Authority of Singapore’s (MAS) core inflation measure probably increased 1.5 percent in November from a year earlier, the same as the pace recorded in October.

The central bank’s core inflation measure excludes changes in the prices of cars and accommodation, which are influenced more by government policies.

At its latest policy review in October, the MAS kept its exchange-rate based monetary policy steady but changed a reference to maintaining current settings for an extended period, a shift that analysts said created room for a tightening next year.

Reporting by Masayuki Kitano; Editing by Sam Holmes

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