Research: Singapore June Cpi Inflation Likely remained Low


Quotes from Standard Chartered:

Singapore will release June inflation data on 23 July. We forecast headline CPI inflation to have remained benign, at 1.5% y/y, versus 1.6% in May. This translates into a 0.2% m/m seasonally adjusted increase.

-The high base effect likely depressed overall price increases. Vehicle permit prices (weighted by successful bids) fell by c.14% y/y in May, and probably kept overall transport costs negative on a y/y basis. Housing costs should also have benefitted from the property-cooling measures and lower utility costs.

-While price pressures remain low for now, the recent increase in vehicle permit prices and global food prices may limit further downside to inflation. The UN Food Price Index has been turning positive on a y/y basis since April, while vehicle permit prices have risen m/m since their multi-month lows in April.

News are provided by InstaForex.