Singapore sees record core inflation in April

Illustrative image (Photo: The Star)

Hanoi (VNA) - As a result ofhigher energy and food costs, Singapore’score inflation accelerated to 3.3 percent year-on-year in April from the 10-year high of 2.9 percent in March.

This is the highest since January 2012,when core inflation came in at 3.5 percent, according to a joint release of the Monetary Authority of Singapore (MAS) and the Ministry of Trade andIndustry (MTI).

Core inflation excludes accommodationand private transport costs, which tend to be significantly influenced bysupply-side administrative policies and are volatile, they said.

The headline consumer price index, oroverall inflation, stood at 5.4 percent year-on-year in April, the same asin March, as private transport inflation moderated.

MAS and MTI noted external inflationarypressures remain strong amid elevated global commodity prices, as well asongoing supply chain frictions driven by both the Russia-Ukraine conflict andthe regional pandemic situation.

In the near term, heightenedgeopolitical risks and tight supply conditions will keep crude oil priceselevated, they added./.

VNA