Singapore Inflation Falls to Lowest Level in Four Months

Singapore’s core and overall inflation rates witnessed a sharp decline in July, falling below analyst predictions and marking the lowest point in four months. Core inflation, excluding housing and private transport costs, dipped to 0.5% while overall inflation fell from 0.8% in June to 0.6%. This unexpected drop surprised analysts, particularly those from the private sector, who had predicted a stagnant rate from June’s 0.6%. Notably, core CPI dropped by 0.1%, and total CPI declined by 0.4% when factoring in monthly shifts.