Singapore: Inflation steady in September
According to Statistics Singapore, the result was particularly driven by higher prices for clothing and footwear offset by lower prices for housing and utilities and transport.
Inflation in September mirrored August’s 0.4% rise, matching market expectations. Meanwhile, annual average inflation increased from 0.4% in August to 0.5% in September, the highest reading in nearly two-and-a-half years.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, came in at 1.5% in September, slightly up from August’s 1.4% reading.
FocusEconomics Consensus Forecast panelists expect inflation average 1.2% in 2018, which is unchanged from last month’s estimate.
For 2019, the panel sees average inflation at 1.4%. ■