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Financial News: Singapore Inflation Accelerates In October

Singapore Inflation Accelerates In October

11/23/2021 - 01:22:00 (RTTNews)

(RTTNews) - Singapore consumer price inflation accelerated in October, data published by the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Tuesday.

Consumer price inflation rose to 3.2 percent in October from 2.5 percent in September. Economists had expected a 2.8 percent rise.

This latest consumer prices outcome was largely due to a rise in prices for core inflation, private transport and accommodation cost.

MAS core inflation rose to 1.5 percent in October from 1.2 percent in the previous month.

The increase in core rate was largely driven by higher services and food inflation.

For 2021 as a whole, MAS core inflation is expected to average 0-1 percent, while overall inflation is forecast to come in between 1-2 percent in 2022.

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