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Financial News: Singapore Inflation Increases In April

Singapore Inflation Increases In April

05/24/2021 - 03:40:00 (RTTNews)

(RTTNews) - Singapore's consumer prices rose in April, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Monday.

The consumer price index rose 2.1 percent year-on-year in April, following a 1.3 percent increase in March. Economists had expected a 2.0 percent rise.

This latest consumer prices outcome was largely due to a rise in core inflation, prices for private transportation and accommodation cost.

MAS core CPI, which excludes costs of accommodation and private road transport, grew 0.6 percent annually in April, following a 0.5 percent increase in the preceding month.

The statistical office expects external inflation to rise in the coming quarters, amid a recovery in global oil prices and turnaround in producer price inflation in major economies.

For 2021, MAS Core Inflation is expected to average 0-1 percent, while the CPI-All Items inflation is expected to come between 0.5-1.5 percent.

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