English
العربية
Français
Deutsch
Español
русский
हिंदी
اردو
LoginSingapore Core Inflation Hits 2-Year High
Singapore, August 24 (QNA) - Singapore's core inflation rate rose in July to its highest level in nearly two years, driven by higher prices for public utilities and fuel, amid the repercussions of rising global energy prices on household living costs.
The Singapore Department of Statistics said in a statement on Monday that core inflation, which excludes accommodation and private transport costs, stood at 2 percent in July on a year-on-year basis, compared with the same month last year, thereby recording its fastest pace of increase since October 2024.
The headline inflation rate also rose to 2.2 percent during the same month, while prices for public utilities and other fuels jumped 6.1 percent year-on-year, affected by higher global energy costs amid the continuing repercussions of the war in West Asia.
Singapore relies heavily on energy imports to meet its domestic needs, making its prices more affected by fluctuations in global energy markets. In this context, electricity and gas prices in the country rose to record levels during the third quarter of the year, creating an additional factor behind the rise in inflationary pressures. (QNA)
chat
Hello! How can we help?
Beta
