SINGAPORE, Aug. 24 (Xinhua) -- Singapore's consumer price index for all items (CPI-All Items) inflation came in at -0.4 percent in July, compared to -0.5 percent in June, the Ministry of Trade and Industry (MTI) and Monetary Authority of Singapore (MAS) said in a joint press release on Monday.
This is the fourth successive month for Singapore to see negative CPI-All Items inflation. The two authorities attributed the uptick largely to a smaller decline in private transport costs.
According to the press release, Singapore's private transport costs fell by 2.1 percent in July, compared to a 4.4 percent decline in June, mainly due to an increase in car prices.
Meanwhile, the MAS Core Inflation, which excludes the costs of accommodation and private road transport, fell to -0.4 percent in July, from -0.2 percent in June. This was mainly driven by a steeper decline in the cost of electricity and gas, as well as lower food inflation.
The cost of electricity and gas fell by 15.2 percent in July, compared to a 3.9 percent decline in June. This was mainly due to a steeper decline in electricity prices as the electricity tariff was revised downwards for the three months starting from July 1.
The food inflation edged down from 2.3 percent in June to 2.2 percent in July, as inflation for non-cooked food fell.
MTI and MAS reiterated in the press release that Singapore's inflation is expected to remain subdued overall. Both MAS Core Inflation and CPI-All Items inflation are forecast to average between -1 percent and 0 in 2020.