atans1

Inflation: the main drivers

In Economy, Financial competency on 06/12/2021 at 5:41 am

As is food.

So, the recent weakness in oil prices because of concerns of the latest variant is to be welcomed.

Here, S’pore’s overall inflation rose to 3.2% in October, highest in more than 8 years.

The uptick reflected stronger private transport and rental costs, in addition to the higher core inflation, said the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on Tuesday (Nov 23).

Core inflation, which excludes rents and private road transport costs, climbed to 1.5 per cent last month from 1.2 per cent in September. The increase was due to rising services and food prices, and a smaller decline in the cost of retail and other goods.

It outdid the 1.3 per cent median estimate of analysts Bloomberg surveyed. 

https://www.straitstimes.com/business/economy/singapore-overall-inflation-rises-to-32-in-october-highest-in-more-than-8-years

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