Singapore's inflation trims to 1.2% in July

Singapore's Consumer Price Index (CPI)-All Items inflation eased to 1.2% in July from 1.8 per cent in June, mainly due to lower private road transport cost.
In a joint statement, the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry said private road transport cost fell by 1.6% in July, following the 2.8% increase a month earlier.
It said this mainly reflected the high base last year when certificate of entitlement (COE) premiums surged, while petrol pump prices also rose at a slower pace of 3.1%, compared to 6.4% a month ago.
Accommodation cost was largely unchanged, after edging up by 0.5% in the previous month, given the soft housing rental market.
Food inflation eased to 3.0% from 3.2% a month ago, on account of a more moderate rise in the prices of non-cooked food items and prepared meals.
Services inflation was higher at 2.5%, compared to 2.2% in the preceding month, led by stronger increases in pre-school fees, medical treatment cost and holiday travel expenses.