Singapore's core consumer price index (CPI), which excludes accommodation and private transport costs, rose 2.2% year over year in August, according to joint data released by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on Wednesday.

The reading compared with the 2% pace recorded in the previous month. It matched the 2.2% consensus forecast tracked by Investing.com.

Meanwhile, headline inflation accelerated to 2.3%, from 2.2% in July, driven primarily by higher core inflation, which more than offset lower private transport inflation.

On a month-on-month basis, core prices rose 0.3%, while CPI-All Items increased 0.6% in August.