Singapore Inflation Rate Steady at 0.4% in October
Consumer prices in Singapore increased 0.4 percent from a year earlier in October of 2017, the same pace as in the prior month but below market expectations of 0.5 percent rise. The inflation figure remained the lowest since April, as cost of food increased at a faster pace while transport inflation was similar from the preceding month.
Year-on-year, prices went up less than in a month earlier for: household durables & services (0.7 percent from 0.8 percent, largely due to a 2.1 percent increase in household services & supplies); education (2.6 percent from 2.7 percent), due to a 2.6 percent rise in tuition & other fees and a 0.9 percent gain in school textbooks & related study guides. Also, inflation of health care rose less ( 2.2 percent from 2.5 percent), mainly due to a 2.8 percent rise in medical & dental treatment; and communication (1.0 percent from 1.3 percent).
Cost rose at faster pace for: clothing & footwear (0.7 percent from 0.5 percent in September); miscellaneous goods & services (0.9 percent from 0.7 percent, due to a 0.2 percent rise in alcoholic drinks & tobacco, a 3.3 percent rise in personal effects, a 0.1 percent increase in personal care, and a 2.1 percent rise in other miscellaneous expenditure; recreation & culture (0.7 percent from 0.4 percent, due to a 1 percent rise in recreation, a 0.1 percent increase in newspapers, books&stationery, and a 0.5 percent rise in holiday expenses.
Inflation was steady for transport (1.1 percent, largely due to a 2.2 percent rise in private road transport).
Prices of food rose 1.5 percent, following a 1.2 percent rise in the previous month. Among food excluding food servicing services, cost increased for all categories : milk, cheese & eggs (0.7 percent); fish & seafood (1.5 percent); oils & fats (2.2 percent); fruits (2.5 percent); sugar, preserves & confectionery (0.8 percent); vegetables (4 percent); other food ( 2 percent); meat (1.1 percent); non-alcoholic beverages (1.9 percent), and bread & cereals (0.6 percent). Also, among food servicing services, prices went up for all categories: restaurant foods (1 percent); fast food (0.9 percent), hawker food including food courts (1.6 percent), and catered food (1.3 percent).
On the other hand, cost fell for housing & utilities (-2.7 percent from -2.3 percent, mainly due to a 4.2 percent decline in accomodation).
Core consumer prices which exclude costs of accommodation and private road transport, rose 1.5 percent, the same pace as in September and in line with market expectations
On a month-on-month basis, consumer prices fell 0.3 percent, after being flat in a month earlier.
11/23/2017 6:06:35 AM