Singapore's core inflation dropped to 2.9% YoY in June from 3.1% in May due to lower retail and services prices.

Singapore's core inflation decreased to 2.9% year-on-year in June from 3.1% in May, due to lower retail and services prices. The Ministry of Trade and Industry and the Monetary Authority of Singapore forecast that inflation will moderate over the rest of the year and decline more notably in the fourth quarter as import cost pressures decrease and Singapore's labor market eases. This is the lowest core inflation since August 2021.

July 23, 2024
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