Singapore's Consumer Price Index (CPI) for August 2024 has decreased to 2.2%, marking a slight reduction from the previous rate of 2.4% noted in the same month. This data, updated on September 23, 2024, represents a year-over-year comparison.
The August 2024 CPI, which compares the change for this month to August of the previous year, indicates a modest cooling in inflationary pressures. The previous rate of 2.4% for the same month also reflected a year-on-year comparison, contrasting this slight downturn.
These findings could impact economic forecasts and policy decisions, as inflation metrics are critical indicators of economic health and cost-of-living adjustments. The slightly lower CPI may signal a slowing inflation trend, providing some respite for consumers and economic planners alike.
