Singapore: Inflation drops to lowest level since January 2022 in August
Inflation dropped to 4.0% in August, easing slightly from July’s 4.1%. August’s result marked the lowest inflation rate since January 2022. Looking at the details of the release, price pressures for food, and housing and utilities eased, outweighing a stronger rise for transport prices.
Additionally, annual average inflation fell to 5.8% in August (July: 6.0%). Meanwhile, core inflation fell to 3.4% in August, from July’s 3.8%.
Finally, consumer prices rose 0.88% in August over the previous month, contrasting July’s 0.24% drop. August’s figure marked the highest reading since November 2022.