SINGAPORE (XINHUA) – Singapore’s core inflation, as measured by the consumer price index (CPI), came in 3.1 per cent year-on-year in May, unchanged from April, official data showed yesterday.
The increase in services prices was offset by lower energy and retail inflation, according to the Ministry of Trade and Industry and the Monetary Authority of Singapore.
The core CPI excludes private transport and accommodation costs to better reflect household expenses.
The all-items inflation in Singapore rose to 3.1 per cent year-on-year in May from 2.7 per cent in April due to higher private transport prices. Singapore expects its headline and core CPI to range between 2.5 per cent and 3.5 per cent this year.
