ZCZC
BCN-44
SINGAPORE-CPI-GROWTH
Singapore’s CPI growth remains at 0.7 pct in September
SINGAPORE, Oct. 24, 2018 (BSS/Xinhua) – Singapore’s Consumer Price Index
(CPI) grew 0.7 percent year on year in September, unchanged from that in
August, said the Ministry of Trade and Industry (MTI) and the Monetary
Authority of Singapore (MAS) in a joint release on Tuesday.
The MAS Core Inflation, which excludes the costs of accommodation and
private road transport, came in at 1.8 percent on a year-on-year basis, 0.1
percentage points lower than that for the previous month.
The authorities said the unchanged CPI reflected a smaller decline in
accommodation costs and higher services inflation, which were offset by lower
retail inflation in September.
As for the MAS Core Inflation, they attributed the slight decrease to the
fact that a moderation in retail inflation more than offset higher services
inflation.
Looking forward, the two authorities said Singapore’s imported inflation
is likely to increase on account of higher global oil and food price, and the
domestic inflation will be influenced by a faster pace of wage growth in 2018
and 2019.
They forecast that the city-state will see the MAS Core Inflation rise
modestly in the months ahead, and come in within the forecast range of 1.5-2
percent in 2018 and 1.5-2.5 percent in 2019.
The CPI is projected to grow by about 0.5 percent in 2018, and the
inflation will rise to 1-2 percent in 2019, they added.
BSS/XINHUA/HR/1512