SINGAPORE, Aug. 24 (Xinhua) -- Singapore's core inflation rose to 2 percent year-on-year in July from 1.6 percent in June, official data showed on Monday.
The Monetary Authority of Singapore and the Ministry of Trade and Industry said in a joint statement that the increase was driven by higher inflation for electricity and gas, services and food.
On a month-on-month basis, core consumer prices increased 0.3 percent in July.
Core inflation, which excludes accommodation and private transport costs, is a key measure of underlying price pressures driven by domestic demand.
Headline inflation rose to 2.2 percent year-on-year in July from 1.9 percent in June, due to higher accommodation inflation, alongside the increase in core inflation, the statement said. ■
