Singapore Core CPI Slows Second Month on Weaker Services

Singapore’s key consumer price index in August slowed for a second month in a row, which the city-state’s central bank said was driven mainly by a moderation in services inflation.

The core inflation rate, which excludes housing and private transportation costs, decelerated to 0.3% in August from a year earlier, according to a statement by the Department of Statistics Singapore on Tuesday. That’s lower than 0.5% in July and the median estimate of 0.5% in a Bloomberg News survey.