Singapore: Inflation shoots up in September on higher transport prices
October 23, 2012
In September, consumer prices added 0.6% over the previous month, which mirrored the rise observed in August. According to the Statistics Singapore, transport recorded the largest price increase. As a result of the monthly price rise, annual inflation jumped from 3.9% in August to 4.7% in September, which was above market expectations that had inflation increasing to 4.3%. Annual average inflation, however, stabilized at August's 5.0%. Meanwhile, the Monetary Authority of Singapore's (MAS) annual core inflation measure, which excludes the costs of accommodation and private road transport, only edged up from 2.2% in August to 2.4% in September.