Singapore core inflation dips to 2.9% in June; lowest in over 2 years

SINGAPORE — Singapore’s core inflation in June dropped to 2.9 per cent year-on-year — the lowest in more than two years.

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Overall or headline inflation in May was 2.4 per cent in June on a year-on-year basis, down from 3.1 per cent in the previous month. Accommodation inflation also edged down as housing rents rose at a more modest pace, going from 3.4 per cent in May to 3.3 per cent in June. The"gradually strengthening" Singdollar trade-weighted exchange rate should also continue to temper Singapore's imported inflation in the months ahead.

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