Singapore Aug CPI at 0.4%

Both Singapore’s headline and core inflation came in lower than expected in August, based on the latest data by the Department of Statistics. The all-items consumer price index was up 0.4% year on year, moderating from July’s 0.6%, reflecting a fall in private road transport inflation, and to a lesser extent, an easing in food and retail inflation. Collectively, they more than offset the smaller decline in the cost of accommodation, Bloomberg reported. Core inflation, which excludes the costs of accommodation and private road transport, stood at 1.4% in August, easing from 1.6% in the previous month, due to lower food and retail inflation. Private sector economists polled by Bloomberg before the data was released on Monday had forecast headline inflation to come in at 0.6% and core inflation at 1.6%. Private road transport inflation fell to 2.6% in August from 3.5% in July, while food inflation was lower at 1.2% compared to 1.4% in the preceding month.