Singapore records 0.4% inflation in August

SINGAPORE (Sept 25): Singapore's Consumer Price Index (CPI) rose 0.4% in August, compared to the 0.6% of CPI-All Items inflation in July, says the Ministry of Trade and Industry and Monetary Authority of Singapore (MAS) in a joint release on Monday.

The dip largely reflected a fall in private road transport inflation, and to a lesser extent, a moderation in food and retail inflation, which together more than offset the smaller decline in the cost of accommodation.

The joint release says that Singapore's private road transport inflation was 2.6% in August, compared to 3.5% in July. This was due to a dissipation of the base effect associated with the expiry of the one-year road tax rebates in August 2016, which outweighed the combined impact of a steeper increase in petrol prices and a smaller decline in car prices.

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