Singapore: Inflation reaches lowest rate in four months
August 25, 2014
In July, consumer prices fell 0.3% over the previous month, which followed the 0.7% decrease recorded in June. According to Statistics Singapore, July’s decrease was mainly driven by lower prices for housing and transport.
Annual inflation fell from 1.8% in June to 1.2% in July, which was the lowest rate in four months. The figure came in well below the 1.9% the market had expected. Annual average inflation inched down from 1.8% in June to 1.7% in July.
The Monetary Authority of Singapore’s (MAS) annual core inflation measure, which excludes the cost of accommodation and private road transport, inched up from 2.1% in June to 2.2% in July.
Author: Dirina Mançellari, Senior Economist