Singapore’s Core Inflation Steady at 1.4% Despite Oil Crunch (opens original article in a new tab)

Singapore's core inflation stayed at 1.4% in May despite global energy price increases, with all-items inflation at 1.8% below forecasts, indicating resilience to the oil crisis.

• Singapore's core inflation rate remained at 1.4% in May despite rising global energy and fertilizer prices
• All-items inflation was 1.8% in May, below the 2% forecast
• Core inflation excludes housing and private transportation costs
• Economic growth in Q1 was 1% better than the 0.2% forecast
• Economists suggest no immediate need for further monetary policy tightening due to lower oil prices