Consumer Price Developments in September 2014
CPI-All Items inflation eased to 0.6% in September from 0.9% in August, on account of a smaller increase in services costs and a further decline in accommodation cost.
Services inflation slowed to 1.7% in September from 2.1% in the preceding month. This was mainly due to the moderation in the increase in medical and dental treatment fees, from 4.6% in August to 2.4% in September, which reflects the impact of enhanced medical subsidies, including the Pioneer Generation Package (PGP).1 However, the contributions of telecommunication services, tertiary education and air transport were higher compared to August.
Accommodation cost fell by 0.6%, extending the 0.2% decline in the previous month, as a result of the soft housing rental market.
Please click here for the full press release: Consumer Price Developments in September 2014.pdf
MINISTRY OF TRADE AND INDUSTRY
MONETARY AUTHORITY OF SINGAPORE
23 October 2014