Singapore August inflation falls 0.3%

This is the smallest annual decline since July 2015.

Singapore's consumer price index made its smallest year-on-year decline since July 2015 in August at 0.3%

In a joint release today, the Ministry of Trade and Industry and the Monetary of Singapore said the smaller decline largely reflected a moderation in the fall in private road transport cost.

Compared from last year's 4.4%, data show private road transport cost falling this year by only 1.0%. The government explained this was due to the expiry of the one-year road tax rebate for petrol vehicles, in addition to a smaller decrease in petrol prices.

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