Singapore September core inflation rises 5.3%

SINGAPORE  – Singapore’s key consumer price gauge rose 5.3 percent 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 favored price measure – rose to 5.3 percent in September on a year-on-year basis, compared with 5.1 percent in August. A Reuters poll of economists had forecast a 5.2 percent increase in September.

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

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