Business News Asia
The Monetary Authority of Singapore (MAS) and Singapore’s Ministry of Trade and Industry (MTI) said today that MAS core inflation rose to 3.3% year-on-year in April from 2.9% in March.
Meanwhile, the CPI All Items increased by 5.4% YoY in April, unchanged from the previous month of March.
The MAS core inflation rate does not include prices in the private housing and land transport categories. The general consumer price index shows that the CPI increased in all categories.
According to the MTI and MAS, core inflation rose in April due to rising prices for food, retail goods, and other commodities, as well as rapidly rising prices for electricity and gas. The overall CPI was unchanged as rising core inflation was offset by lower private transport prices.