Singapore: Inflation picks up in June
July 23, 2018
Consumer prices increased 0.1% over the previous month in June, down from May’s 0.6% increase. According to data released by Statistics Singapore, June’s rise in prices was primarily driven by higher prices for food and recreation and culture.
In June, inflation rose to 0.6% from 0.4% in May, in line with market expectations. Annual average inflation remained at 0.4%.
Finally, the Monetary Authority of Singapore’s (MAS) core inflation measure, which omits the costs of accommodation and private road transport, rose from 1.5% in May to 1.7% in June. The uptick came on faster food and services inflation.
Author: Jan Lammersen, Economist