Singapore Core Inflation Eases to 1.8% in September
Singapore inflation rate fell slightly in September. The official data showed, that Singapore's core inflation dropped to 1.8% yoy in September. Inflation also came in below market expectations, as analysts were predicting core inflation at 1.9% yoy last month.
Meanwhile, the all-items or headline inflation remained unchanged from August, at 0.7%, although the market had expected the year-on-year rise in consumer prices to quicken to 0.8%.
According to analysts, fall in inflation was caused by lower retail inflation. The overall cost of retail items rose by 1.5% yoy in September, compared to the 2% increase in August. Still, lower retail inflation was offset by higher services inflation and a smaller decline in accommodation costs. Services inflation came in at 1.4% yoy in September, slightly higher than August's 1.3%, while accommodation costs fell 2.5 % yoy in September from the 2.6% in the preceding month.