Singapore core inflation at 1.4% year-on-year in May, lower than expected

SINGAPORE: Singapore’s key consumer price gauge rose 1.4% in May from a year earlier, official data showed on Tuesday, below economists’ expectations.

The core inflation rate, which excludes private road transport and accommodation costs, was lower than the median forecast of 1.6% in a Reuters poll.

Headline inflation was 1.8% in annual terms in May, lower than the poll forecast of 2%.

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Last week, the central bank’s June quarter survey of economists showed core inflation is seen at 2% this year and headline inflation at 2.3%, up from forecasts of 1.5% for both in the previous survey.