Financial News: Singapore Inflation Rises To 0.7%

Singapore Inflation Rises To 0.7%

(RTTNews) - Singapore consumer price inflation increased more than expected in September to the highest level in three months, the Monetary Authority of Singapore reported on Thursday.

Consumer prices climbed 0.7 percent annually in September, faster than the 0.5 percent increase in August, which was the weakest inflation since January 2021. The expected increase was 0.6 percent.

On a monthly basis, consumer prices rose 0.3 percent in September.

Data showed that MAS core inflation rose slightly to 0.4 percent from 0.3 percent in August, driven by an increase in the prices of retail and other goods.

The increase in overall inflation was driven by a larger increase in private transport prices, alongside higher core inflation.

Private transport inflation accelerated to 3.7 percent in September from 2.4 percent in August. Costs for retail and other goods rebounded 0.3 percent, while the accommodation inflation remained stable at 0.4 percent. 

Food prices rose at a stable pace of 1.1 percent, and inflation based on services slowed to 0.3 percent from 0.4 percent.

Looking ahead, MAS Core Inflation is projected to come in at around 0.5 percent in 2025 before rising to 0.5-1.5 percent in 2026, the MAS said. CPI-All Items inflation is expected to average 0.5-1.0 percent in 2025 and 0.5-1.5 percent in 2026.

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