Updated: 07/23/2014 22:03

Singapore's CPI fell 1.8% in June



Singapore's CPI fell 1.8% in June

Singapore's consumer price index, a measure of inflation, fell to 1.8 per cent in June, due to a more moderate increase in car prices. 

Private road transport cost edged up by 2.8 per cent, a smaller rise compared to the 8.1 per cent surge in May. 

This is largely due to the sharp correction in COE premiums in May. 

Other major categories, except food, were also slightly lower. 

The Trade and Industry Ministry and the Monetary Authority of Singapore, say the inflation rate is expected to ease in the second half of the year due to lower imputed rentals on ownner occupied accomodsations and car prices. 

For the whole year, car prices are now projected to exert a slight drag on overall inflation, given the larger-than-expected increase in car COE quotas. 

So the inflation rate is expected to come in at the lower half of the 1.5 to 2.5 per cent forecast range.

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