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Singapore consumer prices remained stable in December compared to the previous year, the Department of Statistics reported Monday. Economists were expecting an annual 0.7% increase in December.
The consumer price index dipped 0.5% in December over November, mainly due to lower costs of housing and transport and communication. Excluding accommodation costs, the index stayed unchanged in December. On a seasonally adjusted basis, the consumer price index was 0.3% lower compared with November.
Compared with the previous year,consumer prices moved up 0.2% in 2009. This was lower than the corresponding increase of 6.5% in 2008. The increase was mainly driven by higher costs of food and health care.
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