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Singapore Inflation June 2023

Singapore: Inflation falls in June

Inflation came in at 4.5% in June, which was down from May’s 5.0%. June’s reading marked the weakest inflation rate since February 2022. Slower price pressures for food, transport and housing drove the reading. These three categories also represent the biggest components of Singapore’s CPI basket.

The trend edged lower, with annual average inflation coming in at 6.3% in June, down from May’s 6.5%. Meanwhile, core inflation fell to 4.2% in June from the previous month’s 4.7%.

Finally, consumer prices increased 0.53% in June over the previous month, accelerating from the 0.27% increase recorded in May.

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