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Financial News: Singapore Inflation Rises As Expected

Singapore Inflation Rises As Expected

09/23/2019 - 02:13:00 (RTTNews)

(RTTNews) - Singapore's inflation increased as expected in August, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Monday.

The consumer price index rose 0.5 percent year-on-year in August, following a 0.4 percent increase in July. The rate came in line with economists' expectations.

The latest increase in inflation was driven by higher private road transport cost and a smaller decline in accommodation costs.

MAS core inflation, which excludes the costs of accommodation and private road transport, rose to 0.8 percent in September, the same rate as seen in the preceding month.

On a month-on-month basis, consumer prices grew 0.5 percent in September, reversing a 0.4 percent fall in the previous month.

MAS core CPI remained stable in September, after a 0.1 percent rise in the previous month.

The MAS and the ministry forecast core inflation to come within the lower half of the 1-2 percent range in 2019. Meanwhile, overall inflation is expected to average 0.5-1.5 percent in 2019.

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