Singapore's Inflation Edges Higher in July

By Gaurav Raghuvanshi Features Dow Jones Newswires

Singapore's consumer prices rose at a slower-than-expected pace in July as the prices of housing and utilities continued to fall.

Continue Reading Below

The consumer price index in July rose 0.6% compared with the same period a year ago, slightly below the median estimate for a 0.8% rise from a poll of six economists by The Wall Street Journal. The CPI rose 0.5% on-year in June.

Housing and utilities costs, which have an index weighting of 26.3%, declined 2.5% in July from a year earlier due to a 4.1% on year fall in accommodation costs, the data showed.

Transportation costs, which make up 15.8% of the index, climbed 2.0% as the recent fall in car prices was arrested.

Food prices, which have a 21.7% weighting in the index, rose 1.4% on year as a rise in non-cooked food inflation was offset by lower price increases for prepared meals, the data showed.

The central bank's core inflation measure, which strips out private road transport and accommodation costs, rose to 1.6% in July from 1.5% in June, mainly due to higher prices for water, retail goods and services. The poll had predicted core inflation would hold steady at 1.5% in July.

Continue Reading Below

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

(END) Dow Jones Newswires

August 23, 2017 01:14 ET (05:14 GMT)