Singapore’s core inflation rises to 2% in July on higher electricity and gas, services, food prices

SINGAPORE: Singapore’s core inflation rose to 2 per cent year-on-year in July, up from 1.6 per cent in June, according to official figures released on Monday (Aug 24).This was because of higher inflation for electricity and gas, services and food, the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) said in a joint media release.Core prices, which exclude accommodation and private transport, rose by 0.3 per cent month-on-month in July.Overall inflation, as measured by the Consumer Price Index-All Items, rose to 2.2 per cent in July from 1.9 per cent in June, due to higher accommodation inflation alongside higher core inflation.On a month-on-month basis, overall inflation - which excludes non-consumption expenditures such as purchases of houses, shares and