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Monday, 24 October 2011

Singapore's CPI cools to 5.5% in September

SINGAPORE: Singapore's consumer price inflation cooled to 5.5 per cent on-year in September, down from 5.7 per cent in August.

The September measure of inflation is below the median of 5.7 per cent forecast by many economists.

Lower private transport costs contributed to the slower inflation, due mainly to a decline in premiums for Certificate of Entitlement for vehicles.

Clothing and footwear costs also eased.

The Department of Statistics said higher costs of accommodation, transport and food were the key drivers for the CPI increasing over the year.

Excluding accommodation costs, the CPI was 4.2 per cent higher compared to the same period last year.

The Statistics Department said the MAS core inflation rate eased to 2.1 percent on-year in September, down from 2.2 percent the previous month.

- CNA/al

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