Singapore: Decrease in annual consumer prices moderates in June
July 23, 2015
In June, consumer prices fell 0.1% over the previous month, contrasting the 0.5% increase tallied in May. According to Statistics Singapore, June’s decrease was driven by a fall of clothing and footwear as well as accommodation prices.
Consumer prices fell 0.3% annually in June, which followed May’s 0.4% drop. The reading was in line with market expectations. As a result of June’s decrease, annual average inflation inched down from May’s 0.2% to 0.1%, which marked an over-five-year low.
The Monetary Authority of Singapore’s (MAS) annual core inflation measure, which excludes the cost of accommodation and private road transport, inched up from 0.1% in May to 0.2% in June.
Author: Eric Denis , Economist