Singapore: Fall in consumer prices softens in June
July 25, 2016
In June, consumer prices increased 0.7% compared to the previous month, swinging from the 0.7% drop tallied in May. According to Statistics Singapore, the reading mainly reflected an increase in prices for transport as well as for housing and utilities.
Consumer prices fell 0.7% annually in June, which was a less pronounced drop than May’s 1.6% decline. The reading beat market expectations of a more pronounced 1.0% decrease. The annual average variation in consumer prices was minus 0.8%, a historical low which was marginally down from May’s minus 0.7%.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, inched up from 1.0% in May to 1.1% in June.