Singapore: Inflation picks up again in June
July 23, 2012
In June, consumer prices were flat over the previous month, which came in below the 0.2% increase recorded in May. The reading was the result of a drop in prices for clothing and footwear as well as for transport, in particular private transport amid lower fuel prices, along with a modest rise in food costs. Despite the subdued monthly reading, annual inflation rose from 5.0% in May to 5.3% in June, exceeding market expectations that had inflation at 5.2%. Annual average inflation remained stable at 5.3%. Meanwhile, the Monetary Authority of Singapore's (MAS) annual core inflation measure, which excludes the costs of accommodation and private road transport, remained unchanged for second month in a row at 2.7%.