Singapore's core inflation stays in negative territory for September

SINGAPORE: Core consumer prices in Singapore continued to decline in September, albeit at a slower rate, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Friday ., mainly driven by smaller reductions in the cost of services and electricity and gas, said MAS and MTI.

CPI measures the average price changes in a fixed basket of consumption goods and services commonly purchased by resident households. It excludes non-consumption expenditures such as loan repayments, income taxes and purchases of houses.For September, private transport costs declined 0.1 per cent year-on-year, improving from the 2.3 per cent drop the month before due to larger increases in car prices.

The rate of decline in the cost of electricity and gas also slowed slightly at 14.2 per cent, as new subscriptions under the Open Electricity Market slowed. They also forecast that cost pressures will stay subdued on the domestic front, and accumulated slack in the labour market will weigh on wages.

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