Core inflation excludes accommodation and private transportation costs, and is a price indicator that the Monetary Authority of Singapore is mainly concerned about. The authorities predict that the core inflation rate and overall inflation rate will...
Core inflation excludes accommodation and private transportation costs, and is a price indicator that the Monetary Authority of Singapore is mainly concerned about.
The authorities predict that the core inflation rate and overall inflation rate will fall on average between 0.5% and 1.5% for the whole year of 2025. Taking into account the intensified uncertainty of the external environment, inflation risks tend to decline.
Compared with March this year, core prices rose 0.5% in April, while overall prices fell 0.3%.
The Singapore Bureau of Statistics released its latest consumer price index (CPI) on Friday (May 23), showing that it included accommodation and private transportation costs. The overall inflation rate in April this year remained at 0.9%, reflecting the decline in accommodation and private transportation inflation and offset the rise in core inflation.
Singapore's core prices stopped falling and rebounded. The core inflation rate in April this year was 0.7%, higher than 0.5% in March and 0.5% higher than the economist's median forecast for 0.5%, due to rising service and food inflation, surpassing the decline in retail and other commodity inflation.
Although trade conflicts may exert inflationary pressure on some economies, the impact on Singapore's import prices is expected to be offset by a slowdown in inflation due to weak global demand.
The Monetary Authority of Singapore and the Ministry of Trade and Industry pointed out in a joint statement on Friday that my country's import inflation will remain moderate. Global crude oil prices are expected to be below 2024 levels amid a slowdown in global demand and adequate supply. Food price increases are also expected to be controlled.
