After Weak 1H, CPI Set To Improve On Supportive Energy Costs

Economic Research	26 July 2016
Singapore
Economic Highlights
After Weak 1H, CPI Set To Improve On Supportive Energy Costs Singapore’s consumer price index declined 0.7% y-o-y in June, recovering partially from a 1.6% fall the month before. By income group, 1H headline inflation for the lowest 20%, middle 60% and top 20%, contracted by 1.3%, 0.7%, and 1.1% y-o-y respectively. The lower income group benefitted the most from lower housing & utility costs, while the rise in food prices was found to disproportionately affect the middle and lower income groups more than the top earners. Overall, CPI slipped by 1.1% y-o-y in 1H, deteriorating from a 0.3% decline for the corresponding period of last year, weighed by weaker energy and petroleum prices. Economist:  Ng Kee Chou | +603 92802179
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