SINGAPORE, Sept. 23 (Xinhua) -- Singapore's core inflation eased to 0.3 percent year-on-year in August, down from 0.5 percent in July, according to official data released Tuesday.
In a joint statement, the Ministry of Trade and Industry and the Monetary Authority of Singapore said the slowdown was mainly driven by a moderation in services inflation.
On a month-on-month basis, core consumer prices rose 0.1 percent. The core Consumer Price Index, which excludes accommodation and private transport costs, is considered a key gauge of underlying, demand-driven inflation.
Headline inflation also moderated, coming in at 0.5 percent year-on-year in August, compared with 0.6 percent in July. The statement noted that, in addition to lower core inflation, accommodation inflation also fell.
