SINGAPORE, July 23 (Xinhua) - Singapore's Consumer Price Index (CPI) grew 0.6 percent year on year in June, moderated from the 0.9 percent inflation in May, said the Ministry of Trade and Industry (MTI) and Monetary Authority of Singapore (MAS) in a joint release on Tuesday.
This was due to lower private road transport, services and retail inflation, as well as a larger decline in the cost of electricity and gas and the accommodation cost, the authorities said.
Meanwhile, the MAS Core Inflation, which excludes the costs of accommodation and private road transport, edged down from 1.3 percent in May to 1.2 percent in June, due to lower services and retail inflation, as well as a steeper decline in the cost of electricity and gas.
According to the joint release, Singapore's cost of private road transport rose slightly by 0.2 percent year on year in June, moderating from the 1.5 percent increase in the previous month, mainly on account of a smaller rise in car prices and a decline in petrol prices.
The authorities reiterated in the release that Singapore's CPI inflation was expected to average 0.5-1.5 percent in 2019, and the MAS Core Inflation was expected to come in near the mid-point of the forecast range of 1-2 percent. Enditem
