Singapore: Inflation stable in September

Inflation came in at 7.5% in September, matching August’s figure, which had marked the highest inflation rate since June 2008. Meanwhile, the trend pointed up, with annual average inflation coming in at 5.4% in September (August: 5.0%).

Meanwhile, consumer prices rose 0.66% in September over the previous month, following the 0.57% increase logged in August.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.4% in 2023, which is up 0.6 percentage points from the previous month’s forecast. In 2024, our panel expects average inflation of 2.1%.