SINGAPORE, Jun 23 (NNN-XINHUA) – Singapore saw a decline in consumer prices in May, primarily driven by decreases in food, retail, and private transportation inflation, according to a report jointly published by the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) today.
The MAS core inflation eased to 4.7 percent on a year-on-year basis in May, compared to 5.0 percent in Apr.
This was mainly driven by a decline in inflation for services and food.
Consumer price index (CPI)-all items inflation eased to 5.1 percent, on a year-on-year basis, in May, compared to 5.7 percent in Apr. This largely reflected a fall in private transport inflation, in addition to lower core inflation.– NNN-XINHUA
