Dip slightly to 1.9% YoY in August as food prices ease
Headline inflation eased to a four-month low of 1.9% YoY in August (Jul: 2.0%), slightly below both our forecast and market consensus of 2.0%, mainly due to food prices
- Despite rising rental costs, inflation was tempered by moderation across several key components, including restaurants & hotels, transport, clothing and furnishings. Muted food and non-alcoholic beverage prices further weighed on the headline figure.
- On a MoM basis, inflation remained unchanged at 0.08% (Jul: 0.08%), as higher housing costs were offset by flat food prices and a moderation in transport cost.
- Core inflation held steady at 1.9% YoY but ticked up slightly by 0.2% MoM (Jul: 0.1%) due to a rise in shelter cost.
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