Economic Buzz: Singapore Price Inflation Rises 7% Y-o-Y In July

23 Aug 2022 , 02:18 PM

Singapore consumer price inflation increased for a third straight month in July, led by higher prices for food, utilities, private transport and accommodation, data published by the Monetary Authority of Singapore and the Ministry of Trade and Industry showed. Consumer prices increased 7.0 percent year-on-year in July, following a 6.7 percent rise in June. MAS core inflation increased to 4.8 percent in July from 4.4 percent in the previous month. On a monthly basis, consumer prices rose 0.2 percent in July and the core CPI increased 0.6 percent. MAS core inflation is forecast to stay elevated over the next few months, before easing towards year-end, averaging 3.0-4.0 percent this year. Total inflation is forecast at 5.0-6.0 percent. Powered by Commodity Insights