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Singapore Consumer Prices Steady In September

Singapore's consumer prices remained unchanged in September, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry sowed on Friday.

The consumer price index remained unchanged year-on-year in September, after a 0.4 percent fall in August. Economists had expected a 0.25 percent decline.

This latest inflation outcome was largely due to a more gradual decline in private transport costs.

MAS core CPI, which excludes the costs of accommodation and private road transport, fell 0.1 percent annually in September, following a 0.3 percent decrease in the preceding month. Economists had forecast a 0.2 percent fall.

The latest modest decline can be attributed to smaller declines in the costs of services, and electricity and gas.

The statistical office expects external inflation to remain low in the coming quarters, amid weak demand conditions.

Both MAS Core Inflation and CPI-All Items inflation are forecast to average between -5 percent and 0 percent this year, the statistical office and MAS said.

Next year, MAS Core Inflation is expected to average 0-1 percent, while CPI-All Items inflation is projected to be between -0.5 and 0.5 percent.

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