Economic Buzz: Singapore Inflation Eases To 6.7% On Year In October

23 Nov 2022 , 01:17 PM

Singapores consumer price inflation eased more-than-expected in October to the lowest level in four months, data published by the Monetary Authority of Singapore and the Ministry of Trade and Industry showed. Consumer prices climbed 6.7 percent year-on-year in October, after a 7.5 percent stable rate of increase in September, which was the strongest inflation since June 2008. MAS core inflation also moderated to 5.1 percent in October from 5.3 percent in the previous month. The slowdown in core inflation was driven by smaller increases in the prices of electricity and gas, retail, and other goods and services. On a monthly basis, consumer prices dropped 0.4 percent in October, while the core CPI moved up 0.1 percent. Powered by Commodity Insights