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Singapore's July inflation at -0.7%, core inflation at 1%

Tuesday, August 23, 2016 - 13:04
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Singapore's headline inflation rate stayed in negative territory in July, at -0.7 per cent from a year ago - the same as June's reading.

SINGAPORE'S headline inflation rate stayed in negative territory in July, at -0.7 per cent from a year ago - the same as June's reading.

Core inflation, which excludes the costs of accommodation and private road transport, eased marginally to one per cent in July from 1.1 per cent in the month before.

While the core inflation reading was exactly in line with the market's forecast, the contraction in headline inflation was slightly larger than private-sector economists had expected. The 19 economists polled by Bloomberg had been expecting an overall figure of -0.5 per cent.

Among the segments, housing & utilities, transport, and clothing & footwear posted negative readings in year-on-year terms - of -4.3 per cent, -3.5 per cent, and -1.8 per cent respectively.

Readings of all other segments were in positive territory, with education the highest at 3.6 per cent, followed by household durables & services at 3.2 per cent, and food at 2.1 per cent.

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