Singapore core inflation dips to 2% in September from 2-year high in August
Singapore's core inflation eased to 2 per cent year-on-year in September, down from 2.2 per cent in August, data from the Ministry of Energy, Trade and Industry (METI) and the Monetary Authority of Singapore (MAS) showed.This was because of lower inflation for services, and retail and other goods, MTI and MAS said in a joint media release on Friday (Oct 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 0.1 per cent in September.Overall inflation, listed as "consumer price index-all items" fell by 0.1 per cent, to 2.2 per cent in September, due to lower core inflation and private transport inflation. MTI and MAS said overall inflation, on a month-on-month basis, rose by 0.2 per cent in September, easing from the 0.6 per cent rise in August.This excludes non-consumption expenditure such as purchase of houses, shares and other financial assets and income tax.