Singapore: Inflation declines to seven-month low in September
January 1, 1970
In September, consumer prices declined 0.1% over the previous month, which contrasted the 0.5% increase recorded in August. According to Statistics Singapore, September’s decrease was mainly driven by lower prices for clothing and footwear as well as for health care.
Annual inflation fell from 0.9% in August to 0.6% in September, which marked the lowest rate in seven months. The figure undershot the 0.9% rise that the market had expected. Despite the annual decrease, annual average inflation remained stable at August’s 1.6%.
The Monetary Authority of Singapore’s (MAS) annual core inflation measure, which excludes the cost of accommodation and private road transport, inched down from 2.1% in August to 1.9% in September.
Author: Cecilia Simkievich, Economist