© Stocksak. FILEPHOTO: Shoppers shop at a popup store in Singapore, April 24, 2017. REUTERS/Edgar Su
SINGAPORE (Stocksak), – Singapore’s key consumer price index rose 5.3% in September, slightly higher than forecast, according to official data. This was driven by larger increases of the prices of food, retail, and other goods.
Core inflation rate, the central bank’s preferred price measure, rose to 5.3% in September from 5.1% in August. A Stocksak poll of economists forecasted a 5.2% rise in September.
In line with economists’ predictions, headline inflation rose to 7.5%.
The central bank had previously stated that core inflation would likely remain at around 5% through 2022 and early 2023.