MAS core inflation, which excludes accommodation and private transport and is the government’s preferred metric, rose by 3.1% y-o-y in May, unchanged from April. Higher inflation in the services sector was offset by lower inflation for electricity & gas, as well as retail & other goods.
Analysts are mixed after the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) released Singapore’s headline and core inflation numbers for the month of May on June 24.
Headline inflation – or CPI-All items inflation – rose to 3.1% y-o-y from 2.7% in April due to higher private transport inflation. Headline inflation increased by 0.7% on a m-o-m basis.
