Singapore: Inflation ticks up in August, while core inflation is stable
Consumer prices increased 0.4% over the previous month in August, contrasting July’s 0.1% fall. According to data released by Statistics Singapore, August’s upswing was chiefly driven by higher prices for housing and utilities.
Inflation inched up to 0.7% in August from 0.6% in July, while annual average inflation was stable at 0.4%. Meanwhile, the Monetary Authority of Singapore’s (MAS) core inflation measure, which omits the costs of accommodation and private road transport, remained at 1.9% in August as higher retail and food inflation was offset by easing services inflation.