Singapore: Fall in annual consumer prices remains stable in July
August 23, 2016
In July, consumer prices dropped 0.3% compared to the previous month, swinging from the 0.7% increase tallied in June. According to Statistics Singapore, the reading mainly reflected lower prices for clothing and footwear as well as for housing and utilities.
Consumer prices fell 0.7% annually in July, which was in line with June’s reading. The reading undershot market expectations of a less pronounced 0.5% decrease. The annual average variation in consumer prices was minus 0.8%, in line with June’s result, which had marked an historical low.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, inched down from 1.1% in June to 1.0% in July.