Singapore: Inflation is stable in May
Latest reading: Consumer prices increased 1.8% in annual terms in May, stable from the previous month’s reading. May’s reading was the strongest since September 2024.
Relative to the prior month’s data, there were higher price pressures for food (+1.8% on a year-on-year basis vs +1.6% in April) and transport (+7.4% vs +7.0% in April). Finally, the variation in housing and utilities prices was the same as in the prior month (+0.2% in May and April).
Meanwhile, core consumer prices rose 1.4% in annual terms in May, stable from the previous month’s reading.
Finally, consumer prices rose 0.75% in May in month-on-month terms, following a 0.34% decline in the previous month.