Singapore: Inflation stable in October, while core inflation ticks up
November 23, 2018
Consumer prices fell 0.3% over the prior month in October, following a flat reading in September. According to data released by Statistics Singapore, the downtick was primarily caused by lower prices for housing and utilities, while health care costs also fell.
Inflation increased 0.7% in October, rising by the same rate as in September, while annual average inflation inched up to 0.5% in October from 0.4% in September. Meanwhile, the Monetary Authority of Singapore’s (MAS) core inflation measure, which omits the costs of accommodation and private road transport, inched up to 1.9% in October from 1.8% in September due to a sharp double-digit increase in electricity and gas prices caused by higher oil prices.
Author: Lindsey Ice, Economist