Brussels: Singapore's core inflation increased to 0.4 percent year-on-year in September, up from 0.3 percent in August, according to official data released Thursday.

According to Namibia press Agency, the Ministry of Trade and Industry and the Monetary Authority of Singapore released a joint statement indicating that the rise in core inflation was propelled by higher prices for retail and other goods. This marks a month-on-month increase of 0.3 percent in core consumer prices. The core Consumer Price Index, which excludes accommodation and private transport costs, serves as an important measure of underlying, demand-driven inflation.

Headline inflation also experienced an uptick, reaching 0.7 percent year-on-year in September, compared to 0.5 percent in August. The statement highlighted that this increase was due to a larger rise in private transport prices, in addition to the higher core inflation.