Singapore's Inflation Falls Short of Expectations

Singapore's core inflation rate in July rose by 0.5%, underperforming economists' predictions. Official data showed the core rate, excluding private transport and accommodation, was below the anticipated 0.6% from a Reuters poll. Overall headline inflation stood at 0.6%, also less than the forecasted 0.7%.

Singapore's core inflation rate increased by 0.5% year-on-year in July, as revealed by official data, coming in below economists' forecasts. This marks a hitch in the anticipated upward trajectory of inflation.

The core inflation measure, excluding the costs of private road transport and accommodation, was lower than the 0.6% rise predicted in a Reuters poll of economists. The discrepancy indicates a less aggressive inflationary pressure than anticipated by experts.

Overall, headline inflation marked an annual increase of 0.6% in July, which was also shy of the projected 0.7%. These figures reflect a softer rise in consumer prices than what had been expected by market analysts.

(With inputs from agencies.)