Singapore’s inflation rate rose for a second straight month, year on year, with price growth in October scaling a near 1-year high and topping analysts’ expectations.
After reaching a 4-year low in August, consumer prices rose 1.2% — highest since August 2024 — compared with the average 0.9% estimated by economists polled by Reuters and the 0.7% rise in September.
Core inflation in the city-state — which strips out prices of accommodation and private transport — also rose to 1.2%, up from 0.4% and compared with the 0.7% expected in the Reuters poll.
On a month-on-month basis, the consumer price index was flat, with core inflation coming at 0.5% compared to the prior month.
Headline inflation was fueled by a 3.4% increase in transport prices alongside higher core inflation. Health costs also rose by a sharp 4%.
