Singapore: Inflation unchanged in July, but core inflation creeps up
August 23, 2018
Consumer prices decreased 0.1% over the previous month in July, contrasting June’s 0.1% increase. According to data released by Statistics Singapore, July’s decline in prices was primarily driven by lower prices for housing and utilities; and transport.
In July, inflation was unchanged at 0.6%, while annual average inflation remained at 0.4%. However, the Monetary Authority of Singapore’s (MAS) core inflation measure, which omits the costs of accommodation and private road transport, rose from1.7% in June to 1.9% in July on a larger increase in electricity and gas prices.
Author: Oliver Reynolds, Economist