Singapore: Inflation stable in August
Consumer prices increased 0.5% month-on-month in August, contrasting the 0.4% drop in July. The price rise was chiefly driven by pricier housing and utilities, transport, and food, offsetting cheaper clothing and footwear, health care, and recreation and culture.
Inflation, meanwhile, ticked up to 0.5% in August from 0.4% in July, matching market analysts’ expectations. Annual average inflation was stable at 0.6% in August. The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes accommodation and private road transport costs, was stable at 0.8% in August.