Headline: Inflation in Singapore Slows but Remains Above Expectations

Singapore's consumer inflation rate slowed in September, though it came in slightly above market expectations. According to a statement from the Singapore Department of Statistics, the consumer price index rose by 2.0% in September compared to the same month a year ago. This figure is below the 2.2% increase recorded in August but above the 1.9% market expectation. Data indicated that inflation in the city-state stood at 2.6% for the first nine months of the year.

Core consumer prices, which exclude private road transport and accommodation costs, also rose by 2.8%, slightly above market expectations, mirroring the headline inflation trend. Analysts had predicted that the rate of increase in core consumer prices would remain steady at 2.7%.

Among the largest indexed components, housing and utilities costs increased by 3.2% year-on-year, while food prices rose by 2.6%. The data followed the Monetary Authority of Singapore's decision to keep policy settings unchanged at its latest meeting in October. Although the Central Bank does not have a specific target for inflation, it views core inflation slightly below an average of 2% as consistent with overall price stability in the economy.