SINGAPORE — Singapore’s core inflation held steady at 5 per cent year-on-year in April, with lower inflation for electricity and gas, food as well as retail and other goods.
The lower inflation in these categories was offset by higher inflation for travel-related services last month, said the Monetary Authority of Singapore and the Ministry of Trade and Industry on Tuesday .
Overall inflation rose to 5.7 per cent year-on-year in April, up from 5.5 per cent in the preceding month. This reflected higher inflation for services and private transport.Electricity and gas inflation fell to 2.7 per cent year-on-year in April, down from 12.2 per cent in March. This was due to smaller increases in both electricity costs and the gas tariff.
Inflation for retail and other goods eased to 2.9 per cent in April from 3.3 per cent, as the prices of household durables and clothing and footwear increased at a slower pace. The cost of personal effects fell. Accommodation inflation edged up to 4.9 per cent as a smaller increase in housing rentals was more than offset by a larger increase in the cost of housing maintenance and repairs."Consumer goods inflation in the advanced economies has moderated, even as overall core inflation is still high. Energy and food commodity prices have fallen below their peaks seen last year," they added.
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