Singapore: Inflation eases in June
July 23, 2014
In June, consumer prices fell 0.7% over the previous month, which contrasted the 0.5% increase recorded in May and marked the fastest drop since April 2013. According to Statistics Singapore, June’s decrease was mainly driven by lower prices for housing and transport.
Annual inflation fell from 2.7% in May to 1.8% in June. The figure came in below the 2.4% the market had expected. Annual average inflation was stable at May’s 1.8% in June.
The Monetary Authority of Singapore’s (MAS) annual core inflation measure, which excludes the cost of accommodation and private road transport, inched down from 2.2% in May to 2.1% in June.
Author: Dirina Mançellari, Senior Economist