Updated: 08/25/2014 22:38

Singapore's consumer price index eases to 1.2% in July: Department of Statistics



Singapore's consumer price index eases to 1.2% in July: Department of Statistics

Singapore's consumer price index eased to 1.2 per cent in July. 

Data released from the Department of Statistic showed that the slowdown was mainly due to lower private transport cost. 

Private road transport cost fell 1.6 per cent in July, while petrol pump prices also rose at a slower pace of 3.1 per cent. 

Accommodation cost was largely unchanged, after edging up by 0.5 per cent in the previous month, given the soft housing rental market. 

Food inflation eased to 3 per cent, on account of a more moderate rise in the prices of non-cooked food items and prepared meals. 

But, services inflation was higher at 2 per cent, compared to 2.2 per cent in the previous month. 

This was led by stronger increases in pre-school fees, medical treatment cost and holiday travel expenses. 

The Monetary Authority of Singapore or MAS' core inflation, which excludes the cost of accommodation and private road transport, inched up to 2.2 per cent in July, due to the pickup in services inflation.

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