Core inflation was depressed by a steeper fall in the cost of electricity and gas, as well as lower food inflation.CORE inflation, a key metric used by the central bank to develop Singapore's monetary policy, touched its lowest point in more than a decade in July.
Core inflation slipped to -0.4 per cent, with the pace of its fall widening from -0.2 per cent in the month before, according to government data released on Monday. The figure, which was the lowest since hitting -0.5 per cent in January 2010, was in line with the median decline in private-sector estimates. Core inflation was depressed by a steeper fall in the cost of electricity and gas, as well as lower food inflation.
Meanwhile, headline or all-items inflation came in at ‐0.4 per cent, picking up slightly from -0.5 per cent in June, and beating analysts' estimates of a 0.6 per cent drop. The more gradual year-on-year slide came largely on a smaller decline in the cost of private transport, according to the Ministry of Trade and Industry and Monetary Authority of Singapore , which compile the monthly data.
Source: News Formal (newsformal.com)
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