Tuesday, July 26, 2016

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

Economic Research
26 July 2016

Economic Highlights

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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