Singapore in Brief

CPI Rises, Inflation to Increase

Singapore’s Consumer Price Index rose 2.7 per cent in May compared to the same period last year.

 

This is according to figures released by Singapore’s Department of Statistics.

 

The Monetary Authority of Singapore says the rise is due effects associated with fluctuations in Certificate of Entitlement (COE) premiums.

 

Authorities say domestic cost pressures, particularly stemming from a tight labour market, are likely to remain the primary source of inflation.

 

They expect core inflation to stay elevated at 2 to 3 per cent in 2014, with headline inflation projected to ease.

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