SINGAPORE, Aug. 26 (Xinhua) -- Singapore's core inflation eased to 0.5 percent year-on-year in July, down from 0.6 percent in June, according to official data released Monday.
In a joint statement, the Ministry of Trade and Industry and the Monetary Authority of Singapore said the slowdown was mainly due to lower prices for retail and other goods, alongside easing electricity and gas inflation.
On a month-on-month basis, core consumer prices dipped by 0.1 percent. The core Consumer Price Index, which excludes accommodation and private transport costs, is viewed as a key gauge of underlying, demand-driven inflation.
Headline inflation also moderated, coming in at 0.6 percent year-on-year in July compared with 0.8 percent in June. The statement noted that, besides lower core inflation, accommodation inflation also fell. ■
