Oct 23, 2012

Singapore - Singapore inflation rises to 4.7% in September

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SINGAPORE: Inflation in Singapore accelerated in September, driven by higher transport and housing costs.

Data from the Department of Statistics showed that the consumer price index (CPI) for all items rose to 4.7 per cent in September, from the 3.9 per cent in August.

August's CPI of 3.9 per cent was the lowest in almost two years.

A joint statement issued by the Monetary Authority of Singapore and the Trade and Industry Ministry said, "This pick-up had been anticipated in the August inflation report and was largely attributed to the surge in COE premiums in August."

Private road transport cost climbed by 10.8 per cent in September from 6.3 per cent in August.

While accommodation cost inflation edged up to 7.7 per cent in September from 7.4 per cent in the previous month.

Services inflation also inched up to three per cent in September from 2.7 per cent in August, reflecting the stronger pickup in the cost of holiday travel and household services.

Meanwhile, food price inflation eased slightly to 2.1 per cent in September, from 2.3 per cent a month before.

- CNA/fa

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