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Market Update: Singapore Inflation Rate at 7-1/2 Year-High of 2.4%

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Market Update: Singapore Inflation Rate at 7-1/2 Year-High of 2.4%

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Market Update: Singapore Inflation Rate at 7-1/2 Year-High of 2.4%
Singapore’s annual inflation rate increased to 2.4% in May 2021 from 2.1% a month earlier and above market consensus of 2.2%. This was the highest reading since November 2013, amid strengthening consumption in the wake of the coronavirus pandemic. Core consumer prices, which exclude accommodation and private road transport costs, increased by 0.8% yoy, the highest since June 2019, after a 0.6% rise in April and compared with forecasts of 0.7%. source: Statistics Singapore [/s2If]
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