Saturday, November 1, 2014   

Singapore inflation eases in June
(07-23 16:00)

The consumer price index in Singapore rose 1.8 percent in June year-on-year, down from 2.7 percent in May, mainly on account of a more moderate increase in car prices, according to figures released by the Department of Statistics on Wednesday.
Private road transport cost edged up by 2.8 percent in June, a smaller rise compared to the 8.1 percent surge a month earlier, largely due to the sharp correction in Certificate of Entitlement (COE) premiums in May, according to the report by the Monetary Authority of Singapore (MAS) published on the same day.
Services inflation eased to 2.2 percent from 2.5 percent in the preceding month, owing to lower contributions from the cost of holiday travel, telecommunication and medical insurance.
Food inflation came in at 3.2 percent, reflecting steeper price increases of both non-cooked food items and prepared meals.
The core inflation, which excludes the cost of accommodation and private road transport, inched down to 2.1 percent in June from 2.2 percent a month ago, as the steeper increase in food prices was more than offset by the decline in services inflation, the report said.
CPI is expected to come in at between 1.5 to 2.5 percent in the second half of the year, the MAS said. --Xinhua   
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