SINGAPORE: Singapore’s core inflation gauge fell to its lowest level since at least 2012 in July, official data showed on Monday.
The measure closely-watched by the central bank fell 0.4% year-on-year, hitting its lowest level since January 2012, the earliest date in Eikon data.
Economists polled by Reuters had expected a 0.3% fall in the core consumer price index (CPI).
Headline inflation dropped 0.4% year-on-year, data from the trade ministry and the Monetary Authority of Singapore showed, compared with economists estimates for a sharper 0.65% fall.
Authorities in the city-state, battling its deepest ever recession due to the coronavirus pandemic, expect core and headline inflation to average between -1% and 0% in 2020.
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