SINGAPORE – Singapore’s core inflation dropped in September, due to lower core inflation and private transport inflation.
Core inflation – which excludes private transport and accommodation to better reflect household expenses – eased to 2%, down from 2.2% in August, according to data from the Singapore Department of Statistics on October 23.
Overall inflation fell to 2.2% in September from 2.3% in the previous month owing to lower inflation in services, retail and other goods, and private transport.
Private transport inflation slowed to 7.1%, down from 7.5% in August and 8% in July, due to a more gradual increase in car prices.
Meanwhile, accommodation inflation went up to 0.9% in September from August’s 0.8% as housing rents increased at a faster pace.
Services inflation dropped to 1.7%, from 2% in August, due to a smaller increase in point-to-point transport service costs and a larger decline in telecommunication service prices.
Retail and other goods inflation dropped to 1.2% in September from the previous months’ 1.8%, as furniture prices declined and clothing prices rose at a slower pace.
Food inflation increased slightly to 2.4%, from 2.3% in August and from 2.2% in July, due to higher inflation in both non-cooked food and food services.
Electricity and gas prices inflation remained unchanged at 8.7% for September, as electricity prices rose at a similar pace as in August.
