SINGAPORE: Consumer prices in Singapore rose again in August, driven by higher food inflation and a smaller decline in the cost of retail and other goods, official data on Thursday showed.when it rose to a two-year high.
This reflected lower private transport inflation, which more than offset the rise in core inflation, said MAS and MTI.HIGHER FOOD PRICES Electricity and gas prices as well as prices of services also rose, but at a slower pace compared to July, recording 9.7 per cent and 1.2 per cent respectively. The latter was due to a steeper fall in telecommunications services fees, said MAS and MTI.
The authorities maintained their forecast for core inflation to average 0 to 1 per cent for the whole of 2021, and overall inflation to be between 1 and 2 per cent. The authorities projected that commercial rents would stay low, putting a limit on overall business cost pressures.
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