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Singapore's CPI seen rising 0.4 percent in September year-on-year: Reuters poll
October 20, 2017 / 6:14 AM / a month ago

Singapore's CPI seen rising 0.4 percent in September year-on-year: Reuters poll

SINGAPORE (Reuters) - Singapore’s consumer price index in September is expected to have risen at the same pace as the previous month from a year earlier due to higher petrol prices, a Reuters poll showed.

A seller (R) displays oranges for sale at a stall in Singapore January 24, 2011. REUTERS/Kevin Lam

The all-items consumer price index (CPI) was expected to have climbed 0.4 percent in September, unchanged from August, according to the median forecast of 11 economists in the poll.

“Despite some improvement in the labor market, there is still considerable slack which suggests that there are no imminent demand-side price pressures,” said ANZ in a research note, adding that core inflation pressure should remain subdued.

The poll also showed that the Monetary Authority of Singapore’s (MAS) core inflation measure likely increased 1.4 percent in September from a year earlier, also unchanged from August.

The central bank’s core inflation measure excludes changes in the price of cars and accommodation, which are influenced more by government policies.

In August, Singapore’s headline and core CPI rose slower than expected due to lower accommodation costs, which fell 3.9 percent from the year-ago period.

Reporting by Fathin Ungku; Editing by Gopakumar Warrier

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