Singapore’s core inflation held steady at 5 percent year-on-year in April, with lower inflation for electricity and gas, food as well as retail and other goods.
The lower inflation in these categories was offset by higher inflation for travel-related services last month, said the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on Tuesday (May 23).
Core inflation had risen to 5.5 percent in February and January this year, a 14-year high, before falling to 5 percent in March.
Core inflation excludes accommodation and private transport costs. A Reuters poll of economists had forecast a 4.7 percent increase in the core inflation rate in April.
Overall inflation rose to 5.7 percent year-on-year in April, up from 5.5 percent in the preceding month. This reflected higher inflation for services and private transport.
