SINGAPORE: Singapore’s core inflation continued on a downward trend and fell to 4.2 per cent year-on-year in June, official data showed on Monday (Jul 24). Core inflation rose to 5.5 per cent in
The decline in June largely reflected the lower inflation for food and services, said the Monetary Authority of Singapore and the Ministry of Trade and Industry .Overall inflation eased to 4.5 per cent year-on-year in June, down from 5.1 per cent in the preceding month.
Inflation for retail and other goods edged down to 2.7 per cent in June from May's 2.8 per cent. This was because prices of personal care products, as well as medicines and health products recorded smaller increases, said MAS and MTI. Private transport inflation fell to 5.8 per cent in June from 7.2 per cent in May, on account of a steeper drop in petrol prices and a smaller increase in car prices.Global supply chain frictions, energy and food commodity prices have moderated, said MAS and MTI.
With the increases in COE quota and the supply of housing units available for rental, private transport and accommodation inflation are expected to moderate over the course of the year.
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