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Financial News: Singapore Inflation Steady For Second Month

Singapore Inflation Steady For Second Month

11/23/2017 - 00:29:00 (RTTNews)

(RTTNews) - Singapore's consumer price inflation held steady for the second straight month in October, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed Thursday.

The consumer price index climbed 0.4 percent year-over-year in October, the same rate of increase as in the previous two months. Meanwhile, economists had expected the inflation to rise to 0.5 percent.

In October, higher food and private road transport inflation offsetting the steeper decline in the cost of accommodation and the smaller increase in the cost of electricity and gas.

At the same time, services inflation remained stable at 1.5 percent.

MAS core inflation that excludes the costs of accommodation and private road transport, also held steady at 1.5 percent.

On a monthly basis, consumer prices dropped 0.3 percent from September, when it showed no variations.

MAS Core Inflation is expected to be around 1.5 percent in 2017 and average 1-2 percent in 2018, while CPI-All Items 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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