SINGAPORE, July 23– Singapore’s core inflation rose to 1.6 percent year-on-year in June from 1.4 percent in May, official data showed on Thursday. The Monetary Authority of Singapore and the Ministry of Trade and Industry said in a joint statement that the increase was driven by higher inflation for food, services, retail and other goods. On a month-on-month basis, core consumer prices increased 0.1 percent in June. Core inflation, which excludes accommodation and private transport costs, is a key measure of underlying price pressures driven by domestic demand. Headline inflation rose to 1.9 percent year-on-year in June from 1.8 percent in May, due to higher accommodation inflation, alongside the increase in core inflation, the statement said.
Xinhua
