Singapore (VNA) – Increase in the prices of food and services pushed Singapore’s Consumer Price Index (CPI) in June up by 0.6 percent year-on-year, according to a joint report by the Singaporean Ministry of Trade and Industry and the Monetary Authority of Singapore (MAS) released on July 23.

In June, Singapore’s food prices rose by 1.5 percent due to a hike in prices of unprocessed products.

Services prices edged up to 1.7 percent from 1.6 percent as a result of higher holiday costs, as well as the rise in telecommunications service after a slight drop in May 2017.

The country’s overall cost of retail items rose by 1.6 percent in June year-on-year, compared to the 1.3 percent increase in May, reflecting the expansion in prices of garment, footwear, and health care products and equipment.

Meanwhile, private road transport costs climbed 0.4 percent.

The MAS Core Inflation, which excludes the costs of accommodation and private road transport, grew to 1.7 percent in June from 1.5 percent the previous month.

The core inflation is expected to rise gradually over the course of 2018 to come in at the upper half of the 1-2 percent forecast range, should economic conditions evolve as expected. -VNA