Daily Briefing: May CPI drops lower than expected; Singapore still the priciest city for expats

And developers are warned against pre-sale incentives.

Consumer prices in Singapore fell more than forecast in May, extending a record slump that was triggered by falling oil and house prices. The inflation rate declined 1.6 percent from a year ago after dropping 0.5 percent in April, Statistics Singapore said in an e-mailed statement on Thursday. Read more here.

Singapore has maintained its ranking from last year as the world’s fourth most expensive city for expatriates, according to Mercer’s 2016 Cost of Living Survey. Hong Kong topped the list, pushing Angolan capital Luanda to second place. Read more here.

The HDB said developers of executive condominiums (ECs) are not allowed to offer buyers incentives if they have not booked a unit. Read more here.