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Financial News: Singapore Inflation Slows In June

Singapore Inflation Slows In June

07/23/2019 - 02:23:00 (RTTNews)

(RTTNews) - Singapore's inflation slowed in June, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Tuesday.

The consumer price index rose 0.6 percent year-on-year in June, slower than the 0.9 percent increase in May. Economists had expected a 0.8 percent rise.

The slowdown in inflation reflected lower prices of private road transport, services and retail inflation as well as larger declines in electricity and gas, and accommodation costs.

MAS core inflation, which excludes the costs of accommodation and private road transport, slowed to 1.2 percent from 1.3 percent in the previous month.

On a month-on-month basis, consumer prices fell 0.2 percent in June, after a 0.7 percent rise in the preceding month. Meanwhile, MAS core CPI remained unchanged in June.

The MAS and the ministry retained the 2019 headline inflation forecast of 0.5-1.5 percent and the core inflation outlook at 1-2 percent.

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