Singapore inflation inches up to 2% in August
Inflation in Singapore inched up to 2 per cent last month from 1.9 per cent in July, mainly owing to higher prices for housing, services and food.
Accommodation costs rose 4.2 per cent in August over a year ago, more than the 2.6 per cent in July, data from the Singapore Department of Statistics showed on Monday. Consumers had enjoyed a lower rise in costs in July because Housing Board households had received rebates for service and conservancy charges.
Services inflation also increased to 2.7 per cent in August from 2.5 per cent in July. This was led by a bigger rise in cable TV charges and tertiary education fees, according to the Monetary Authority of Singapore (MAS) and Trade and Industry Ministry (MTI).
Consumers also paid more for food. Food prices rose 2.4 per cent in August over the same month a year ago, up from 2.1 per cent in July, largely due to more expensive hawker and restaurant meals.