In a joint statement released by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on June 23, the higher core CPI is mainly contributed by higher services inflation and a smaller decline in the cost of retail & other goods.
Singapore’s core and headline inflation continued their upward trend in 2021, with both metrics gaining in May, according to Consumer Price Index (CPI) data released by the Department of Statistics Singapore (SingStat) on June 23.
Core inflation, which measures price increments in sectors with the exception of accommodation and private transport, was up 0.8% y-o-y in May, following 0.6% in April.
