Services inflation grew by 1.8% y-o-y in October, compared to 0.3% in September, due to a faster pace of increase in health insurance costs, healthcare service costs and holiday expenses.
Core inflation, or Monetary Authority of Singapore (MAS) core inflation, picked up in October, coming in 1.2% higher y-o-y, compared to 0.4% in September.
Core inflation, which excludes accommodation and private transport, rose by 0.5% m-o-m. The higher reading was due to higher inflation in services, food and retail & other goods, but offset by a milder decline in electricity & gas prices.
