Singapore core inflation rises to over 2-year high in August amid higher food prices

Food inflation climbed to 1.5 per cent in August, from 1.1 per cent in July. - ST

SINGAPORE (The Straits Times/Asia News Network): Core inflation in Singapore rose by the fastest pace in more than two years in August, lifted by higher food prices and a smaller decline in the cost of retail and other goods.

Core inflation, which excludes accommodation and private road transport costs, rose to 1.1 per cent on a year-on-year basis last month, up from 1 per cent in July, partly due to low base effects. This was the highest increase since the key indicator hit 1.2 per cent in June 2019.