logo
  

Singapore Inflation Steady At 5.4%

Singapore consumer price inflation remained stable in April and core inflation increased, data published by the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Monday.

Consumer prices increased 5.4 percent year-on-year in April, same as seen in March. Economists had expected the inflation rate to rise to 5.5 percent.

The latest increase was due to the rise in core inflation that was offset by a moderation in private transport costs.

MAS core inflation rose to 3.3 percent in April from 2.9 percent in the previous month. Economists had forecast a rise of 3.4 percent.

The acceleration was largely driven by higher inflation for food, retail and other goods, and electricity and gas.

On a monthly basis, consumer prices declined 0.1 percent in April and the core CPI rose 0.4 percent.

External inflationary pressures have increased amid a sharp rise in global commodity prices and ongoing supply chain frictions due to both the Russia-Ukraine conflict and the regional pandemic situation.

Core inflation is forecast to increase further in the months ahead before easing towards the end of the year as external inflationary pressures recede.

For 2022 as a whole, overall inflation is forecast to come within 4.5-5.5 percent, while MAS core inflation is projected to average 2.5-3.5 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
J&M Foods is recalling certain Lavender Shortbread Cookies sold through department store chain Target Corp. due to undeclared allergens, the U.S. Food and Drug Administration said. These packages were erroneously packed with Chocolate Chip Cookies and do not disclose the presence of a possible allergen, such as soy or eggs. A multi-state listeria outbreak that has killed one and sickened at least 23 others has been linked to Florida -based Big Olaf Creamery brand ice cream, according to the Centers for Disease Control and Prevention or CDC. The outbreak strain has been reported from 10 states, resulting in 22 hospitalizations. One death has been reported from Illinois. Natreve, a premium wellness company, is recalling certain Vegan Protein Powder due to undeclared milk, a known allergen, the U.S. Food and Drug Administration said. The recall involves specific batches of its Vegan Protein Powder French Vanilla Wafer Sundae flavor. The impacted products are stored in 13 oz (10 servings) and 1.47lb (18 servings) white tubs.
Follow RTT