Singapore's core inflation rises to 1.2 pct in October

SINGAPORE, Nov. 24 (Xinhua) -- Singapore's core inflation rose to 1.2 percent year on year in October, up from 0.4 percent in September, according to official data released Monday.

In a joint statement, the Ministry of Trade and Industry and the Monetary Authority of Singapore said the increase was driven by higher inflation in services, food, and retail and other goods, as well as a milder decline in electricity and gas prices.

On a month-on-month basis, core consumer prices rose 0.5 percent. The core Consumer Price Index, which excludes accommodation and private transport costs, is viewed as a key measure of underlying, demand-driven inflation.

Headline inflation also picked up, reaching 1.2 percent year on year in October, compared with 0.7 percent in September. The statement attributed this to a larger increase in private transport prices, in addition to higher core inflation. Enditem