The overall inflation rate came in at 0.7% last month from a year ago, higher than the 0.6% survey median estimate. The transport inflation rate was 3.4% while healthcare costs rose 1.4%.
The Monetary Authority of Singapore kept its policy settings at its Oct. 14 meeting. Official estimates project the city-state’s core inflation to average at 0.5% this year, narrowing from the previous range of 0.5%-1.5%.
The economy grew 2.9% year-on-year in the third quarter, according to preliminary estimates from the Ministry of Trade and Industry last week. That compared with a 2% forecast in a Bloomberg News survey. Drivers of the faster-than-expected expansion include construction and services.
