Singapore’s Core Inflation Rises to 2.7% in August
Singapore’s core inflation rate rose to 2.7% year-on-year in August, marking its first increase in six months. The rise in core inflation, which excludes accommodation and private transport costs, was driven primarily by higher inflation in services.
Core Inflation Rises for the First Time Since February
This increase comes after a steady six-month decline, with the last rise recorded in February. The upward movement in August is attributed to rising costs in various services, highlighting renewed inflationary pressures in the sector.
Headline Inflation Eases Despite Core Inflation Rise
While core inflation saw an increase, overall or headline inflation eased slightly to 2.2% year-on-year in August. This was mainly due to a drop in private transport prices, which helped offset the rise in core inflation. The moderation in headline inflation provides some relief for consumers, even as underlying price pressures persist.
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