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Singapore's Core Inflation Steady at 1.4% in May

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Singapore's core consumer price index (CPI), which excludes accommodation and private transport costs, remained steady at 1.4% year over year in May, according to joint data released by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on Tuesday.

The reading was below the consensus forecast of 1.6% tracked by Investing.com.

Meanwhile, headline inflation (CPI-All Items) was also unchanged at 1.8% as higher private transport and accommodation costs were offset by lower services inflation.

MAS and MTI noted that core inflation is expected to average between 1.5% and 2.5% for the full year.

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