Singapore Annual Inflation Slows in July

Monday, the Statistics Singapore announced that the country's consumer price index, or CPI increased 6.5% year-over-year in July, slower than the 7.5% rise recorded in June.

Food prices increased 8.5% in July over a year ago period, while housing costs rose 12.5%. At the same time, transport and communication climbed 3.4%.

On a monthly basis, the CPI moved up 1.2% in July, and it grew 0.4% on seasonally adjusted basis. Food prices rose 0.7%, while transport and communication cost decreased 0.6% compared to prior month.

For January to July period, consumer prices increased 7% on an annual basis. Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved