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Financial News: Singapore Inflation Steady At 0.4%

Singapore Inflation Steady At 0.4%

10/23/2017 - 01:20:00 (RTTNews)

(RTTNews) - Singapore's consumer prices grew at a steady pace in September as higher services inflation offset the fall in private road transport inflation, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed Monday.

Consumer prices advanced 0.4 percent year-on-year in September, the same rate as seen in August and matched economists' expectations.

Due to higher services inflation, core inflation rose slightly to 1.5 percent in September from 1.4 percent a month ago.

Reflecting a larger decline in car prices, private road transport inflation fell to 2.1 percent from 2.6 percent a month ago. Food inflation remained stable at 1.2 percent.

On a monthly basis, consumer prices remained flat after rising 0.3 percent. At the same time, core inflation rose to 0.1 percent from nil growth.

Core inflation is expected to be around 1.5 percent in 2017 and average 1-2 percent in 2018, while overall consumer price inflation is projected to come in at around 0.5 percent this year, and stay in the range of 0-1 percent next year.

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