(MENAFN) Singapore’s MAS core inflation surged to 1.1 percent on a year-over-year basis last month, from 1 percent in July, the Ministry of Trade and Industry (MTI) and Monetary Authority of Singapore (MAS) declared on Thursday, Sep. 23.
According to the authorities, the rise was mainly pushed by higher food inflation and the smaller decrease in the price of retail and other commodities.
In the meantime, the country’s consumer price index for all items (CPI-All Items) inflation plunged to 2.4 percent on a year-over-year basis in the past month, from 2.5 percent during July. This marked lower private transport inflation, which more than counterbalanced the increase in core inflation.
The country’s MAS core inflation rules out the prices of lodging and private transport, and CPI-All Items inflation indicates the increase in the consumer price index for all items.
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