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Financial News: Singapore Inflation Rises In April

Singapore Inflation Rises In April

05/23/2019 - 02:43:00 (RTTNews)

(RTTNews) - Singapore's inflation rose for the third straight month in April, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Thursday.

Consumer price inflation rose to 0.8 percent in April from 0.6 percent in March.

Data showed that private road transport and services costs increased from last year, outweighing the weakness in electricity and gas, and food costs.

MAS core inflation, which excludes the costs of accommodation and private road transport, slowed to 1.3 percent from 1.4 percent in the previous month, with fall in cost of electricity and gas, and lower food inflation.

On a month-on-month basis, overall consumer prices declined 0.3 percent in April, following a 0.1 percent fall in the preceding month.

Meanwhile, MAS core CPI rose 0.1 percent, reversing a 0.2 percent fall in the prior month.

MAS core inflation is expected to come in near the mid-point of the forecast range of 1-2 percent in 2019. Meanwhile, overall inflation is expected to average 0.5-1.5 percent this year.

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