Advertisement
Advertisement

Inflation rate lower than expected

Dennis Eng

Inflation was 3 per cent last month, up from 1.3 per cent in July but slightly lower than the 3.2 per cent economists had forecast. The government said the figure was distorted by a waiving of rent for public housing tenants. Without them, the consumer price index was 1.9 per cent higher than in the same month last year - as it was in July. A government spokesman said growth in labour productivity would ease global inflationary pressures.

Post