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Financial News: Singapore Inflation Steady In September

Singapore Inflation Steady In September

10/23/2019 - 02:24:00 (RTTNews)

(RTTNews) - Singapore's consumer prices increased at a steady pace in September, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Tuesday.

The consumer price index rose 0.5 percent year-on-year in September, the same rate as seen in August. The rate came in line with economists' expectations.

MAS core inflation, which excludes the costs of accommodation and private road transport, came in at 0.7 percent in September versus a 0.8 percent increase in the previous month.

On a month-on-month basis, consumer prices remained unchanged in September, after a 0.5 percent rise in the preceding month.

MAS core CPI remained at zero in September, the same as in August.

The MAS and the ministry forecast core inflation to come within the lower end of the 1-2 percent range in 2019 and average 0.5- 1.5 percent in 2020. Meanwhile, overall inflation is expected to be around 0.5 percent in 2019 and average 0.5-1.5 percent in 2020.

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