Singapore August core inflation up 1.1%, highest in two years

The core inflation rate rose to 1.1% in August on a year-on-year basis

  
Office workers walk to the train station during evening rush hour in the financial district of Singapore March 9, 2015.

Office workers walk to the train station during evening rush hour in the financial district of Singapore March 9, 2015.

REUTERS/Edgar Su/File Photo

SINGAPORE - Singapore's key price gauge rose by the fastest pace in more than two years in August, mainly driven by higher food inflation.

The core inflation rate — the central bank's favoured price measure - rose to 1.1% in August on a year-on-year basis, compared with 1% in the prior month, the Monetary Authority of Singapore (MAS) said in a statement.

A Reuters poll of economists had forecast an increase of 1%.

Singapore's headline inflation rose 2.4%, in line with economists' forecast.

(Reporting by Chen Lin; Editing by Martin Petty) ((Lin.Chen@tr.com; Twitter @chenlin_sg;))


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