Singapore: Inflation falls in May
Latest reading: Inflation ticked down to 0.8% in May, which followed April’s 0.9%. May’s figure represented the lowest inflation rate since February 2021. Looking at the details of the release, costs for food rose at a more moderate rate, and price pressures for transportation eased.
Accordingly, the trend pointed down slightly, with annual average inflation coming in at 1.5% in May (April: 1.7%). Meanwhile, core inflation edged down to 0.6% in May from the previous month’s 0.7%.
Lastly, consumer prices increased 0.69% in May over the previous month, contrasting April’s 0.31% drop.