Summary

• MAS Core Inflation eased to 2.5% on a year-on-year (y-o-y) basis in July, from 2.9% in June.
  • This was driven by lower inflation across all broad core CPI categories.
  • On a month-on-month (m-o-m) basis, core CPI fell by 0.1%.
• CPI-All Items inflation remained unchanged at 2.4% y-o-y in July, compared to June.
  • This was because a slowdown in accommodation and core inflation was offset by a pickup in private transport costs.
  • On a m-o-m basis, CPI-All Items fell by 0.3%.4

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MONETARY AUTHORITY OF SINGAPORE
MINISTRY OF TRADE AND INDUSTRY
23 August 2024