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Friday, 23 November 2012

CPI ease to 4% in October

Consumer price inflation eased to 4 per cent in October, slowing more than expected from September's inflation rate of 4.7 per cent due to smaller increases in the costs of cars and housing.
Economists polled by Reuters had been expecting a 4.6 per cent rise in the consumer price index (CPI) in October from a year ago.

Private road transport costs rose 8.3 per cent in October from a year earlier, slowing from a 10.8 per cent jump in September, the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry said in a joint statement on Friday. Accommodation cost inflation was 6.8 per cent in October, down from 7.7 per cent in September.

The MAS core inflation measure, which excludes costs of accommodation and private road transport, also fell to 2.2 per cent in October from 2.4 per cent in September.

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