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Singapore’s headline, core inflation ease further in June

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Tessa Oh

Tessa Oh

Published Mon, Jul 24, 2023 · 01:00 PM
    • Food inflation has eased to 5.9 per cent in June from 6.8 per cent in May, as the prices of non-cooked food and prepared meals have risen at a slower pace.
    • Food inflation has eased to 5.9 per cent in June from 6.8 per cent in May, as the prices of non-cooked food and prepared meals have risen at a slower pace. PHOTO: BT FILE

    SINGAPORE’S headline and core inflation continued their downward trends in June, easing to multi-month lows, a likely sign that inflation has already passed its peak, said private-sector economists.

    Headline inflation in June shrank to 4.5 per cent year on year, from May’s 5.1 per cent, data from the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on Monday (Jul 24) indicated, faster than the median 4.4 per cent forecast by private-sector economists in a Bloomberg poll.

    Core inflation, which excludes accommodation and private transport, fell to 4.2 per cent on the year in June, from 4.7 per cent in the preceding month – in line with the 4.2 per cent estimated by economists.

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