CPI-All Items inflation came in at -0.8% in August compared to -0.4% in July, mainly due to the lower
cost of private road transport. Private road transport cost decreased by 2.9% following the 0.1% fall in July, as a result of the high base a year ago when Certificate of Entitlement (COE) premiums for cars saw a sharp increase1, as well as the
one-year road tax rebates for petrol vehicles. Accommodation cost declined by 2.9%, extending the 2.8% drop in the previous month, as the housing rental market continued to soften. Services inflation edged down to 0.5% in August compared to 0.6% in July, largely on account of the smaller increase in the cost of public road transport.
Please click here for the press release: Consumer Price Developments in August 2015.pdf
MINISTRY OF TRADE AND INDUSTRY
MONETARY AUTHORITY OF SINGAPORE
23 September 2015