HONG KONG ECONOMIC TIMES NEWS SERVICE, 23 AUGUST - The Monetary Authority of Singapore and the Ministry of Trade and Industry released the latest Consumer Price Index (CPI) on Wednesday. The core inflation rate in August (excluding accommodation and private transport costs) increased by 2.2% year-on-year, up from 2% in July, in line with market expectations. On a month-on-month basis, core prices rose 0.3% in August.
Regarding overall inflation, the CPI in August increased by 2.3% year-on-year, higher than 2.2% in July, also in line with market expectations. Overall prices rose 0.6% month-on-month.
The report noted that due to high global energy prices and adverse weather conditions, the cost of imported food, goods, and services in Singapore is expected to continue rising. However, domestic productivity growth and government subsidies will help restrain inflation in the services sector. (yc)
Regarding overall inflation, the CPI in August increased by 2.3% year-on-year, higher than 2.2% in July, also in line with market expectations. Overall prices rose 0.6% month-on-month.
The report noted that due to high global energy prices and adverse weather conditions, the cost of imported food, goods, and services in Singapore is expected to continue rising. However, domestic productivity growth and government subsidies will help restrain inflation in the services sector. (yc)
