Inflation in Singapore rose by 5.1% in October, declining slightly

The Singapore National Bureau of Statistics reported that the core consumer price index (CPI), the central bank’s main inflation indicator, rose 5.1% in October, down from 5.3% in September.

The slowdown in the core consumer price index was attributed to declines in utility prices, retail prices, and prices for goods and services.

The consumer price index for October was 6.7%, down from 7.5% in September.

The Monetary Authority of Singapore had previously forecast that the core consumer price index would remain at around 5% for the remainder of 2022 through the first half of 2023.

On Oct. 14, the Monetary Authority of Singapore tightened monetary policy for the fourth time this year to curb inflation, which has risen to its highest level in 14 years.

Leave a Reply

Change Language
%d bloggers like this: