Singapore September core inflation rises 5.3%

SINGAPORE (Reuters) – Singapore’s key consumer price gauge rose 5.3% in September, slightly more than forecast, official data showed on Tuesday, driven by larger increases in the prices of food, services, retail and other goods.

The core inflation rate – the central bank’s favoured price measure – rose to 5.3% in September on a year-on-year basis, compared with 5.1% in August. A Reuters poll of economists had forecast a 5.2% increase in September.

Headline inflation rose to 7.5%, in line with economists’ forecast.

The central bank had earlier said core inflation was likely to stay at about 5% for the rest of 2022, and into early 2023.

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