Headline, core inflation down in Oct after marginal increases

Singapore

SINGAPORE'S headline and core inflation both took a surprise deflationary turn in October to -0.2 per cent, after two months of marginal increases, according to Department of Statistics (Singstat) consumer price index (CPI) figures on Monday. Economists had expected both readings to be neutral at zero per cent.

Core inflation, which excludes the costs of private road transport and accommodation, intensified its decline from September's -0.1 per cent figure, with steeper falls in the costs of services, and of retail and other goods. Food inflation was also lower than in September, at 1.7 per cent.