Headline inflation – or CPI all-items – also moderated to 2.4% on a y-o-y basis in June, down from May's 3.1%. The lower print was attributed to a decline in private transport costs as well as lower core inflation.
Singapore’s core inflation eased to 2.9% in June on a y-o-y basis, down from May's 3.1%. This was driven by lower inflation for retail & other goods, as well as services, reads the July 23 statement issued by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI).
On a m-o-m basis, core CPI remained flat as increases in recreation & culture and housing & utilities were offset by m-o-m declines in clothing & footwear, healthcare and miscellaneous goods & services.
