Singapore core inflation rises to 2.2% in August
Singapore's core inflation rose 2.2 per cent in August from a year earlier, data from the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS) showed.This was driven by an increase in food, retail and other goods, and services inflation, MTI and MAS said in a joint update on Wednesday (Sept 23).On a month-on-month basis, core prices — which excludes accommodation and private transport due to their volatility and tendency to be influenced by supply-side administrative policies — rose by 0.3 per cent in August.Overall inflation, listed as "consumer price index-all items" rose by 0.6 per cent, to 2.3 per cent in August, owing to the pickup in core inflation.MTI and MAS said overall inflation, on a month-on-month basis, rose by 0.6 per cent in August, as compared to the 0.2 per cent fall in July.This excludes non-consumption expenditure such as purchase of houses, shares and other financial assets and income tax.Breakdown by sectorsThe data showed that electricity and gas inflation remained at the same pace in August as in July — at 8.7 per cent.