Singapore CPI up to 0.4% in October

Food and private transport were the biggest risers.

Singapore's consumer price index (CPI) for all items rose to 0.4% YoY, the Singapore government revealed.

The Ministry of Trade and Industry (MTI) said the higher inflation of food and private transport products offset the steeper decline in the prices of accommodation and a smaller increase of electricity and gas.

Food inflation rose to 1.5% in October, reflecting a larger increase in the prices of non-cooked food items and, to a lesser extent, prepared meals.

Private road transport inflation edged up to 2.2% in October on the back of a smaller drop in car prices.

The cost of electricity & gas rose by 6.6% in October, lower than the 7.6% increase in the previous month as electricity tariffs fell following a decline in global oil prices in the preceding months.

The cost of accommodation fell by 4.2% in October, steeper than the 3.9% decline registered in the previous month. This was due to a larger quantum of Service & Conservancy Charges (S&CC) rebates spent compared to October last year.

Services inflation was stable at 1.5% in October, as a larger increase in holiday expenses and recreational & cultural services fees was offset by a smaller rise in the cost of medical & dental treatment and telecommunications services fees.

Meanwhile, MAS Core Inflation, which excludes the costs of accommodation and private road transport remained at 1.5%. Higher food inflation offset the smaller increase in the cost of electricity & gas.