Singapore Inflation Rate Slows to 1.6% in September


In September of 2013, Singaporean annual inflation rate slowed to 1.6 percent, from 2 percent in August, due to a fall in private road transport cost.

Private road transport cost fell by 2.0 percent after rising marginally by 0.1 percent in August. The correction in car prices was due to the high base a year ago, and more than offset the increase in petrol pump prices. 

Accommodation cost went up by 3.9 percent, slightly lower than the 4.2 percent rise in August. This largely reflected a smaller increase in market rentals for both private and HDB properties. 

Services inflation was stable at 2.7 percent, as the stronger pickup in the cost of recreation and entertainment and holiday travel was offset by lower contributions from education and household services fees. 

Food inflation was 2.4 percent in September, similar to the preceding month. While non-cooked food prices rose at a slightly faster pace compared to the increase a month earlier, the pickup in fast food meal prices was more modest. 

MAS Core Inflation, which excludes the costs of accommodation and private road transport, was slightly lower at 1.7 percent in September compared to 1.8 percent in the preceding month.  

On a month-on-month basis, the inflation rate decelerated to 0.1 percent in September, following a 0.8 percent rise in August.


Singapore Inflation Rate Slows to 1.6% in September


Ministry of Trade and Industry | Joana Taborda | joana.taborda@tradingeconomics.com
10/23/2013 10:42:25 AM