Singapore Core Inflation Rate Softens to 0.5 Percent in July
(MENAFN) Singapore’s core inflation rate eased to 0.5 percent year-on-year in July, slipping from 0.6 percent in June, according to official figures released Monday.
In a joint announcement, the Ministry of Trade and Industry and the Monetary Authority of Singapore attributed the deceleration primarily to reduced prices for retail and other goods, coupled with a decline in electricity and gas inflation.
Core consumer prices, which exclude accommodation and private transport costs and serve as a key measure of underlying demand-driven inflation, fell by 0.1 percent on a month-on-month basis.
Headline inflation also eased, falling to 0.6 percent year-on-year in July from 0.8 percent in June. The statement noted that, in addition to the decline in core inflation, accommodation inflation decreased as well.
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