July inflation steady at 0.6%

But core inflation rose 1.9%, the highest in four years.

Singapore posed a steady inflation as the consumer price index rose 0.6% YoY which is unchanged from June and in line with expectations, a report by the Department of Statistics (SingStat) revealed.

Meanwhile, core inflation inched up 1.9% YoY in July from 1.7% in June amidst price hikes in electricity and gas. July’s core inflation is at its highest since August 2014.

According to SingStat, CPI of foods grew 1.5% YoY with oil and fats (3.1%) leading the price hikes followed by fish and seafood (2.8%), and fruits (2.6%). Meanwhile, CPI of vegetables dipped 0.2%.

On the other hand, CPI of food services rose 1.5% led by restaurant food (1.7%) and catered food (1.7%). Other segments like hawker food (1.5%) and fast food (0.6%) also saw a rise in their CPIs.

For clothing and footwear, CPI increased 2.3% YoY and 0.7% MoM.

On the other hand, prices in housing and utilities slipped as its CPI dipped 1% YoY as accomodation’s CPI fell -3.0% whilst fuel and utility prices fell grew 12.5%. CPI of household durables and services inched up 0.5%.

For healthcare, CPI rose 2% YoY and 0.3% MoM. CPI for appliances and equipments grew 0.3% YoY whilst CPI for medical and dental treatment rose 2.4% YoY.

In transport, CPI was recorded at a 0.3% slip as private road transport and public road transport’s CPIs slipped at 0.2% and -1.1%, respectively. Other travel and transport CPIs grew 0.9%.

Meanwhile, CPI for communication and recreation and culture inched up 0.2% and 1.7% YoY, respectively. For education, CPI grew 2.4% whilst CPI for miscellaneous goods and services rose 0.9%.

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