Daily Times

The Ministry of Trade and Industry (MTI) and Monetary Authority of Singapore (MAS) announced on Monday that the MAS core inflation on a year-on-year basis rose to 3.3pc in April from 2.9pc in the previous month. Meanwhile, the CPI-All Items inflation remained unchanged at 5.4pc year on year in April. Singapore’s MAS core inflation excludes the costs of accommodation and private transport, and CPI-All Items inflation represents the rise in the consumer price index (CPI) for all items. According to MTI and MAS, the increase in core inflation this April was driven by faster increases in food prices, retail and other goods prices as well as electricity and gas prices. The CPI-All Items inflation was unchanged because the pickup in core inflation was offset by a moderation in private transport inflation. The food inflation came in higher at 4.1pc in April as the prices of both non-cooked food and food services rose at a faster pace. Meanwhile, the retail and other goods inflation picked up to 1.6pc, mainly due to an increase in the prices of clothing and footwear. The electricity and gas prices rose more steeply by 19.7pc in April on account of larger increases in regulated electricity and gas tariffs. The private transport inflation fell to 18.3pc in the month on the back of a smaller hike in car prices.