Business · Singapore Bureau
Singapore's core inflation accelerates to 2% in July
Core inflation rose to 2.0 per cent in July from 1.6 per cent the previous month, driven largely by a sharp increase in electricity prices. The uptick reflects growing cost pressures in the city-state's economy.
LSN Singapore ·
Singapore's core inflation rate climbed to 2.0 per cent in July, marking a significant acceleration from June's 1.6 per cent reading, according to latest economic data.
The month-on-month increase was primarily attributable to a sharp rise in electricity prices, which pushed up the overall core inflation measure. Core inflation excludes the more volatile components of headline inflation, such as petrol and food prices, providing a clearer picture of underlying cost pressures in the economy.
The latest figure suggests mounting inflationary pressures across Singapore's domestic economy as utility costs continue to climb. This development comes amid broader global energy price volatility and rising operational costs faced by businesses and households in the region.
Monetary authorities will likely monitor the trajectory of core inflation closely in coming months to assess whether the July spike represents a temporary adjustment or a more sustained upward trend. The data adds to existing concerns about cost-of-living pressures affecting consumers and businesses alike.