Singapore’s core inflation eases in July, overall CPI holds steady

SINGAPORE, Aug. 23 (Xinhua) — Singapore’s core inflation, as measured by the consumer price index (CPI), eased to 2.5 percent year-on-year in July from 2.9 percent in June, official data showed Friday.
The decrease was driven by lower inflation across all broad core CPI categories, according to the Ministry of Trade and Industry and the Monetary Authority of Singapore.
The core CPI excludes private transport and accommodation costs to better reflect household expenses.
The all-items inflation in Singapore came in 2.4 percent year-on-year in July, unchanged from June. The slowdown in accommodation and core inflation was offset by a pickup in private transport costs. ■