Services inflation fell mainly due to smaller increases in the costs of holiday expenses and healthcare services. Electricity & gas saw a moderation in inflation as the price of electricity and gas rose at a slower pace. Retail & other goods inflation eased mainly from the drop in clothing and footwear prices as well as lower prices for medicines and health products.
CPI-All items inflation – or headline inflation – has eased to 1.4% on a y-o-y basis in October, from 2% in September. The lower headline inflation was due to slower accommodation inflation and a sharper drop in private transport costs.
Monetary Authority of Singapore (MAS) core inflation, which excludes accommodation and private transport, declined to 2.1% on a y-o-y basis, down from the 2.8% y-o-y print in September. The easing in core inflation was attributed to a moderation in inflation for services, electricity & gas as well as retail & other goods.
