23 May 2018
u Singapore’s CPI saw a slower rise of 0.1% YoY in April, after a 0.2% growth in the preceding month. This was mainly due to a further drop in the prices of housing and transport. Core CPI rose by 1.3% YoY, slowing from a growth of 1.5% YoY in March.
u Going forward, the CPI is envisaged to trend higher, as imported inflation is expected to increase mildly following the rise in commodity prices. However, domestic inflation will remain moderate going forward, as retail rents have stayed relatively subdued.
u MAS’ shift in policy rate to a slightly hawkish stance in April would help to reign in imported inflationary pressures to some extent.
Vincent Loo Yeong Hong | +603 9280 2172
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