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Singapore’s core inflation posts 14-year high

Singapore's core inflation rose 5.1% in August to a nearly 14-year high, driven mainly by stronger increases in the prices of food and services.
Singapore’s core inflation posts 14-year high ảnh 1Illustrative image (Photo: Xinhua/VNA)
Singapore (VNA) - Singapore's core inflation rose 5.1% in Augustto a nearly 14-year high, driven mainly by stronger increases in the prices offood and services.

This is higher than the 4.8% in July, and marks its highestlevel since it touched 5.5% in November 2008.

Last month, the nation’s headline consumer price index (CPI)or overall inflation came in at 7.5%, matching the 14-year high in June 2008.In July, it touched 7%.

The jump mainly reflected higher transport inflation, biggerholiday expenses, steeper hikes in housing rentals, and more costly food andservices.

For the full year, the headline inflation forecast remainsunchanged at between 5-6%, while core inflation is projected to average between3-4%, said the Monetary Authority of Singapore (MAS) and Ministry of Trade andIndustry (MTI) last week./.
VNA
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