Singapore core inflation dips to 3.4pc in August

SINGAPORE, Sept 25 — Singapore’s core inflation moderated to 3.4 per cent on a year-on-year basis in August, from 3.8 per cent in July. In a joint statement today, the...

SINGAPORE, Sept 25 — Singapore’s core inflation moderated to 3.4 per cent on a year-on-year basis in August, from 3.8 per cent in July.

Meanwhile, the Consumer Price Index -All Items inflation eased to 4.0 per cent in August, from 4.1 per cent in July. As for the outlook, MAS and MTI said global supply chain frictions have largely eased, and food commodity prices remain below year-ago levels. On the domestic front, unit labour costs are expected to rise further in the near term, though at a slower pace.

For 2023, as a whole, headline and core inflation are projected to average between 4.5-5.5 per cent and 3.5-4.5 per cent, respectively.

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