Xinhua, Singapore :
Singapore’s Consumer Price Index (CPI) grew 0.7 percent year-on-year in October, unchanged from that in September, said the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS) in a joint release on Friday.
The MAS Core Inflation, which excludes the costs of accommodation and private road transport, came in at 1.9 percent on a year-on-year basis, 0.1 percentage points higher than that for the previous month.
The authorities said the unchanged CPI reflected that lower food and retail inflation, in addition to a steeper decline in private road transport costs, were offset by a stronger rise in the cost of electricity and gas.
As for the MAS Core Inflation, they said a larger increase in the cost of electricity and gas more than offset lower food and retail inflation in October, which was the reason for the slight increase.
The MTI and the MAS forecast that the city-state will see the MAS Core Inflation rise modestly in the months ahead, and come in within the forecast range of 1.5-2 percent in 2018 and 1.5-2.5 percent in 2019.
The CPI is projected to grow by about 0.5 percent in 2018, before rising to 1-2 percent in 2019, they added.
Singapore’s Consumer Price Index (CPI) grew 0.7 percent year-on-year in October, unchanged from that in September, said the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS) in a joint release on Friday.
The MAS Core Inflation, which excludes the costs of accommodation and private road transport, came in at 1.9 percent on a year-on-year basis, 0.1 percentage points higher than that for the previous month.
The authorities said the unchanged CPI reflected that lower food and retail inflation, in addition to a steeper decline in private road transport costs, were offset by a stronger rise in the cost of electricity and gas.
As for the MAS Core Inflation, they said a larger increase in the cost of electricity and gas more than offset lower food and retail inflation in October, which was the reason for the slight increase.
The MTI and the MAS forecast that the city-state will see the MAS Core Inflation rise modestly in the months ahead, and come in within the forecast range of 1.5-2 percent in 2018 and 1.5-2.5 percent in 2019.
The CPI is projected to grow by about 0.5 percent in 2018, before rising to 1-2 percent in 2019, they added.
