Singapore’s inflation rate in April decreased 0.4 percent year-on-year, coming in below the 0.7 percent in the previous month, according to the latest report by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI).
Singapore (VNA) – Singapore’s inflationrate in April decreased 0.4 percent year-on-year, coming in below the 0.7percent in the previous month, according to the latest report by the Monetary Authorityof Singapore (MAS) and the Ministry of Trade and Industry (MTI).
The slowdown was mainly driven by accommodationcost which dropped 6.7 percent, said the report.
April’s core inflation, excluding accommodationand private transportation cost, accelerated by 1.7 percent year-on-year, thehighest in the last 30 months, due to a surge of 18 percent in electricity andgas cost.
Private road transportation costs climbed to 7percent from March’s 6.9 percent as car and petrol prices rose. Increasing telecommunicationcharges led to an increase of 1.7 percent of the service sector’s inflationwhile food costs remained at 1.3 percent.
Experts said the decreasing inflation will makeMAS maintain its low exchange rate stance, at least until a meeting in Octoberthis year. - VNA
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Illustrative photo (Photo: .businesstimes.com.sg)
