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Singapore's October core inflation highest in four years

Singapore's core inflation edged up to 1.9 percent year-on-year in October, the highest level in four years.
Singapore's October core inflation highest in four years ảnh 1Illustrative photo (Source: AFP)
Singapore (VNA) - Singapore's core inflation edged up to 1.9 percentyear-on-year in October, the highest level in four years.

The figure was released by the Ministry of Trade and Industry (MTI) and theMonetary Authority of Singapore (MAS) on November 23.

A sharp increase in the prices of oil and gas pushed theelectricity price in October up 16.6 percent compared to the same period lastyear and higher than the rise of 13 percent in September.

This was one of the main reasons leading to the soaring inflation rate in thecity state.

MTI and MAS also predicted that the core inflation will rise modestly in themonths ahead and stand at 1.5-2 percent this year and 1.5-2.5 percent in 2019.

Earlier, MTI also announced statistics showing that theSingaporean economy grew 2.2 percent in the third quarter of this year.-VNA
VNA
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