Inflation in Singapore fell to 0.6% in July, below the expected 0.7%, with core inflation dropping to 0.5% due to declines in retail prices and electricity and gas costs. Electricity and gas prices decreased by 5.6% year-on-year, the largest drop in the consumer price index basket, while private transport prices rose by 2.1% due to higher car prices. The central bank stated that inflation is expected to remain “moderate” in the near term, noting slower nominal wage growth and increased productivity contributing to moderation in unit labor costs.