Summary

• MAS Core Inflation increased to 1.0% on a year‐on‐year (y‐o‐y) basis in July, from 0.6% in June.
  • This was mainly driven by higher electricity & gas costs.
• CPI‐All Items inflation edged up to 2.5% y‐o‐y in July, from 2.4% in June.
  • The slight increase was due to the pickup in core inflation as well as higher accommodation inflation.
• On a month‐on‐month basis, core CPI rose by 0.2% in July, while CPI‐All Items fell by 0.2%.

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