Singapore's CPI seen rising 0.6% y-o-y in August: Reuters poll

[SINGAPORE] Singapore's consumer price index in August probably rose at the same pace as the previous month from a year earlier due to higher petrol prices, a Reuters poll showed.

The all-items consumer price index (CPI) in August was expected to have climbed 0.6 per cent from a year earlier, according to the median forecast of 10 economists in a Reuters poll.

The index in July increased 0.6 per cent due to higher retail and water prices by the government.

"Although there were no scheduled price hikes (last month), inflation will be largely driven by petrol prices as they were higher in the month of August," ANZ Bank economist Weiwen Ng said.

The second phase of the 30 per cent water price hike will take place in July next year.

The poll also showed that the Monetary Authority of Singapore's (MAS) core inflation index likely increased 1.6 per cent in August from a year earlier, also unchanged from the previous month.

The central bank's core inflation measure excludes changes in the price of cars and accommodation, which are influenced more by government policies. REUTERS