Singapore core inflation in April remains at 3.1%

New: You can now listen to articles.An increase in electricity and gas and retail inflation was offset by slower price rises in services and food, according to data from the Monetary Authority of Singapore and the Ministry of Trade and Industry .

Services inflation slightly moderated to 3.5 per cent from 3.9 per cent"on the back of a larger decline in airfares and a more modest pace of increase in holiday expenses", said MAS and MTI. Accommodation inflation edged down further to 3.5 per cent from 3.7 per cent due to smaller increases in housing rents and the cost of housing maintenance and repairs, said MAS and MTI.Core inflation is expected to"stay on a gradual moderating trend" over the rest of 2024, with a decrease visible in the fourth quarter of the year as import cost pressures continue to decline and tightness in the domestic labour market eases.

The authorities also expect private transport inflation to moderate from last year amid the larger projected COE supply in 2024.

MTI Monetary Authority Of Singapore

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