Singapore’s core inflation remained unchanged last month, as lower energy and goods prices offset an increase in the cost of services.
Core prices, which exclude private transport and accommodation costs and are closely watched by the central bank, came in at 3.1% in May from a year ago — holding steady at the level seen in the previous two months, the Monetary Authority of Singapore and the Ministry of Trade and Industry said in a statement on Monday. The reading matched the median estimate in a Bloomberg survey of economists.
