Sgx Singapore Market News Update : Epic Research Singapore

Consumer price inflation eased more than expected to 0.9 per cent in August from 1.2 per cent in July, again because of lower private road transport costs.

The median forecast of 20 economists polled by Bloomberg before the Department of Statistics released the data on Tuesday was for a 1.1 per cent year-on-year rise in the consumer price index (CPI).

Private road transport costs fell by 2.9 per cent, largely due to lower certificate of entitlement (COE) premiums in the month before. This followed July's drop of 1.6 per cent.

The Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) said in joint comments that the easing in August's headline inflation also reflects "a more moderate increase in services fees".

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