Singapore: Inflation in August reaches lowest level in six months
September 23, 2014
In August, consumer prices rose 0.5% over the previous month, which contrasted the 0.3% decrease recorded in July. According to Statistics Singapore, August’s decrease came on the back of higher prices for clothing and footwear as well as for food.
Annual inflation fell from 1.2% in July to 0.9% in August, which was the lowest rate in six months. The figure undershot the 1.1% the market had expected. Annual average inflation inched down from 1.7% in July to 1.6% in August.
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 July to 2.1% in August.
Author: Dirina Mançellari, Senior Economist