In July, Singapore’s core inflation, as indicated by the consumer price index (CPI), dropped to 2.5% year-on-year from 2.9% in June, according to official data released on Friday. This decline was attributed to reduced inflation across all major core CPI categories, as reported by the Ministry of Trade and Industry and the Monetary Authority of Singapore.
Core inflation eases
Core CPI, which excludes private transport and accommodation costs to better reflect household expenses, showed this easing trend. Meanwhile, overall inflation remained steady at 2.4% year-on-year in July, the same as in June. The reduction in accommodation and core inflation was counterbalanced by a rise in private transport costs.