Singapore core inflation climbs to 5.1% in August; prices to stay elevated in coming months

WITH Singapore’s core inflation climbing to yet another multi-year high of 5.1 per cent in August, officials now expect price increases to remain elevated in the months ahead, even as they stuck to their forecast ranges for the full year.

The August figure was just above economists’ expectations of 5 per cent, a Bloomberg poll found; and up from 4.8 per cent in July, figures from the Department of Statistics released on Friday (Sep 23) showed.

Headline inflation – which includes accommodation and private transport costs – jumped to 7.5 per cent in August, up from 7 per cent in July, on higher private transport inflation. This was slightly higher than economists’ expectations of 7.2 per cent.