, Singapore
Photo by Christian Chen on Unsplash

Inflation eases to 6.7% in October

It came in lower due to the moderation in private transport inflation.

The rate of price increase slowed to 6.7% in October, data from the Ministry of Trade and Industry (MTI) and Monetary Authority of Singapore (MAS) showed. Last month inflation was at 7.5%.

The moderation of the headline or consumer price index (CPI)-all items inflation was on the back of lower private transport inflation (17.3% from 22.3%) and MAS core inflation (5.1% from 5.3%).

MAS and MTI said private transport prices fell due to a slower pace of increase in car and petrol prices.

Price movements also slowed down in electricity and gas (19.0% from 23.9%), retail and other goods (2.6% from 3.1%), and services (3.9% from 4.0%). Accommodation inflation was unchanged at 4.9%, as the pace of increase in housing rents held steady.

On the other hand, food prices edged up in October to 7.1% from 6.9% in September.

For the whole year, MAS and MTI expect headline inflation and core inflation to average around 6.0% and 4.0%, respectively.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!