Surging pork prices drove inflation levels up.
Inflation levels picked up at a faster pace in June after rising 3.3% from 2.8% in May, data from the Census and Statistics Department (C&SD) showed.
The price surge was driven by the rise in pork prices amidst the disruption to the supply of fresh pork. Price pressures on most major CPI components stayed tame with food and housing prices up by 12.1% and 4.1% respectively. .
Inflation levels for miscellaneous services, miscellaneous goods, meals bought away from home, alcoholic drinks and tobacco, and transport hit 2.1%, 2.1%, 2.1%, 1.8%, and 1.7% respectively.
On the other hand, YoY prices decreased for electricity, gas and water (-5.1%), clothing and footwear (-3.1%), as well as durable goods (-1.5%).
Do you know more about this story? Contact us anonymously through this link.