Singapore's consumer price inflation moderated further in August to the lowest level in more than one and-a-half years, due to declines in core and accommodation inflation, data published by the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Monday. The consumer price index, or CPI, climbed 4.0 percent year-over-year in August, slower than the 4.1 percent increase in the previous month. Moreover, this was the weakest inflation rate since January 2022, when prices had grown by 4.0 percent. The MAS core inflation rate also eased to 3.4 percent in August from 3.8 percent in the prior month. The downward trend was mainly driven by lower inflation for services, food, retail, and other goods.
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