23.08.201801:49:00UTC+00Singapore Inflation Remains Stable In July

Singapore's consumer price inflation held steady in July, in line with expectations, data from the Ministry of Trade and Industry and Monetary Authority of Singapore showed Thursday.

Consumer prices climbed 0.6 percent year-over-year in July, the same rate of increase as in June.

In July, a decline in private road transport costs and lower services inflation offset a larger increase in the cost of electricity & gas.

Food inflation remained stable at 1.5 percent, while services inflation moderated to 1.5 percent from 1.7 percent.

Private road transport costs fell 0.2 percent yearly in July, reversing a 0.4 percent rise in June. The costs of accommodation declined at a stable pace of 3.0 percent.

MAS Core Inflation, which excludes the costs of accommodation and private road transport, picked up to 1.9 percent in July from 1.7 percent in June.

On a monthly basis, consumer prices edged down 0.1 percent from June, when it gained by 0.1 percent.

MAS Core Inflation is expected to rise gradually over the course of 2018 to average in the upper half of the 1-2 percent forecast range for the full year.

Similarly, CPI-All Items inflation is projected to come within the upper half of the 0-1 percent forecast range for the full year.