Inflation is up 4%

These are the Singapore inflation rates for 2012:January: 4.8%
February: 4.6%
March: 5.2%
April: 5.4%
May: 5.0%
June: 5.3%
July: 4%

Housing and Transport are leading the pack, rising by 6.4% and 5.7% respectively year on year, substantially down compared to June. My initial estimation of the inflation was far off again, and inflation is continuing the downtrend which started in April. Apparently, I believe I knew why my numbers have been slightly off because I read the information from singstat wrongly (they changed the format for this year).

Anyway, last month inflation's results confuse me because the inflation drop is quite extreme even though the rebates were given out in July. Even with this drop, inflation should still be around 5% for 2012. I won't be able to give an estimate for this month's inflation because I can't figure out this extreme drop.