Households in the highest 20 per cent income group experienced a 1.1 per cent decline in their consumer price index.
This was larger than the 0.7 per cent dip experienced by the middle 60 per cent, mainly because cars accounted for a larger share of expenditure for those in the higher income group, and car prices have been declining on the back of cheaper certificate of entitilement premiums.
However, he [CIMB Private Bank economist Song Seng Wun] noted that food price inflation might continue inching upwards this year.
The food component of the consumer price index rose 2.1 per cent in the January to June period over a year ago.
"There is that worry that the weather could lead to supply disruptions...Some commodity prices have started to pick up," Mr Song added.
