Singapore consumer price inflation increased further in October to the highest level in nine months, the Monetary Authority of Singapore reported on Monday.
Consumer prices climbed 1.2 percent annually in October, faster than the 0.7 percent increase in September. Moreover, this was the highest inflation since January.
On a monthly basis, consumer prices remained flat in October.
Data showed that MAS core inflation also climbed to 1.2 percent in October from 0.4 percent, driven by services, food, and retail and other goods, as well as a milder decline in electricity and gas prices.
The increase in overall inflation was led by private transport prices, alongside higher core inflation.
Private transport inflation accelerated to 3.8 percent in October from 3.7 percent in September. Services inflation quickened to 1.8 percent from 0.3 percent, and food price growth rose slightly to 1.2 percent from 1.1 percent.
Looking ahead, MAS Core Inflation is projected to come in at around 0.5 percent in 2025 before rising to 0.5-1.5 percent in 2026, the MAS said. CPI-All Items inflation is expected to average 0.5-1.0 percent in 2025 and 0.5-1.5 percent in 2026.
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