Singapore: Annual fall in consumer prices eases in August
September 23, 2016
In August, consumer prices increased 0.5% compared to the previous month, contrasting the 0.3% decrease recorded in July. According to Statistics Singapore, the reading mainly reflected higher prices for housing and utilities as well as for transportation.
Consumer prices fell 0.3% annually in August, which was a smaller drop than in July and the smallest decline in 20 months. The result came in slightly above market expectations of a more pronounced 0.4% decrease. The annual average variation in consumer prices was minus 0.8%, in line with July’s result.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, matched July’s 1.0% print in August.