Singapore inflation hits 6.7% in June, highest in 14 years

ISTANBUL

Singapore's annual inflation in June was 6.7%, the highest since October 2008, official figures showed on Monday. The figure recorded last month was 5.6%.

Inflation rose for services, food, retail, and utilities, data released by the Singapore Department of Statistics said.

Food inflation hit 5.4% in June compared to 4.5% in May, while prices for retail and other goods also picked up, 3.1% in June from 1.8% in May.

While food inflation “rose as a result of larger increases in the prices of both food services and non-cooked food,” electricity and gas prices also increased, with inflation at 20% in June compared to 19.9% in May.

Private transport costs, meanwhile, jumped 21.9% from 18.5% in May “as car prices and petrol costs picked up more strongly.”

​​​​​​​On a month-on-month basis, overall inflation increased by 1%.