Singapore’s inflation rises to 1.2pc in Sept

• Oct 26, 2021

SINGAPORE (XINHUA) – The Ministry of Trade and Industry (MTI) and Monetary Authority of Singapore (MAS) said yesterday that the MAS core inflation rose to 1.2 per cent on a year-on-year basis in September from 1.1 per cent in the previous month.

The increase was largely driven by higher food inflation, said the authorities.

Meanwhile, Singapore’s CPI-All Items rose by 2.5 per cent on a year-on-year basis in September, from 2.4 per cent in August. This reflected higher core and accommodation inflation.

Singapore’s MAS core inflation excludes the costs of accommodation and private transport, and CPI-All Items inflation represents the rise in the consumer price index for all items.

In September, Singapore’s food inflation on a year-on-year basis rose to 1.6 per cent as the prices of non-cooked food and prepared meals increased at a slightly faster pace. Meanwhile, the accommodation costs grew by 1.9 per cent year-on-year, compared to 1.7 per cent in the previous month, as housing rents rose at a faster rate.

MTI and MAS reiterated that the MAS core inflation will come in near the upper end of the 0-1 per cent forecast range in 2021 and is projected to increase further to 1-2 per cent in 2022. CPI-All Items inflation is forecast to come in around two per cent this year and average 1.5-2.5 per cent next year.

Source: https://borneobulletin.com.bn/singapores-inflation-rises-to-1-2pc-in-sept/