Business News Asia
Core inflation in Singapore reached its highest level in more than 13 years in May, driven by higher food and utility prices.
Core inflation (excluding the cost of private accommodation and transportation) rose 3.6% year-on-year in May. This was up from the 10-year high of 3.3% in April.
The last time Singapore reported higher year-on-year growth was in December 2008, when core inflation rose by 4.2%.
The CPI, i.e. overall inflation, rose by 5.6% year-on-year in May. This was higher than 5.4% in April and March.