Inflation eased in July, with core inflation falling marginally to 0.5 per cent year-on-year, said the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI).Core inflation, which excludes private transport and accommodation, declined from 0.6 per cent in June, according to a press release on Monday (Aug 25). MAS and MTI said that the change was driven by a fall in the prices of retail and other goods, as well as lower electricity and gas inflation.Headline inflation eased to 0.6 per cent year-on-year in July from 0.8 per cent in June due to lower accommodation inflation in addition to lower core inflation.MAS and MTI maintained their 2025 full-year inflation forecast for core and headline inflation at 0.5 to 1.5 per cent, adding that «both upside and downside risks» remain.Inflation can also be negatively impacted in event of geopolitical shocks causing imported energy and shipping costs to spike, they said.At the same time, «should global and domestic growth be more hesitant and weaker than anticipated, core inflation could stay low for longer», they added. Read more