Singapore's October CPI ascends on oil and transport costs

Singapore's October CPI ascends on oil and transport costs

In October, Singapore's consumer price index managed to rally versus 2016 because of higher private road transport costs, as a fresh Reuters survey disclosed.

In October, the all-items CPI was expected to have soared 0.5%, adding 0.4% from September. That’s what the median estimate of 10 financial experts in the survey informed.

Private road transport costs will most likely edge up because of higher Certificate of Entitlement prices as well as a jump in petrol prices during the month, as experts explained.  

A COE appears to be a quota license win in an auction, which enables the holders to own cars in the city-state.

As a matter of fact, Land-scarce Singapore, which is one of the world's most costly places to own a car, has told it won’t permit any surge in its car population from February.

Additionally, the survey also disclosed that in October the Monetary Authority of Singapore's core inflation measure grew 1.5% from 2016, while staying intact from September.

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