Inflation in Singapore eased to 1.6 percent in September, from 2 percent the previous month, largely due to declined costs of private road transport.
In a joint statement on Oct. 23, the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) said that in September, accommodation costs went up by 3.9 percent; services and food inflations were similar to the previous month, at 2.7 percent and 2.4 percent, respectively.
MAS core inflation, which excludes costs of accommodation and private road transport, rose 1.7 percent in September. It is expected to rise over the next few quarters, averaging 1.5 - 2 percent in 2013 and 2 - 3 percent in 2014. Meanwhile, inflation is projected to come in at 2.5 - 3 percent in 2013 and 2 - 3 percent in 2014.-VNA
