After posting a 0.1% growth in the preceding month.
The cost of housing & utilities slipped 2% YoY in June, largely due to a higher base effect caused by timing differences for the disbursement of service and conservancy charges (SC&C) rebates.
According to RHB, this came after the 0.1% growth in May.
"The volatile nature of 2Q housing & utilities costs is largely due to the base effect caused by timing differences for the disbursement of S&CC rebates. The base effect dissipated in June," RHB noted.
To recall, Singapore's consumer price index (CPI) eased 0.5% in the said month, down from the 1.4% reading in the preceding month. The decline in housing costs contributed to the easing in CPI.
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