Economic Indicators

Singapore May core inflation rises 3.6%, just above forecast


FILE PHOTO: People shop for vegetables at a wet market in Singapore March 22, 2017. REUTERS/Edgar Su

SINGAPORE (Reuters) – Singapore’s key consumer price gauge rose in May at its fastest pace in more than a decade, driven by higher inflation for food and utilities, official data showed on Thursday.

The core inflation rate — the central bank’s favoured price measure – rose to 3.6% in May on a year-on-year basis. A Reuters poll of economists had forecast a 3.5% increase.

Headline inflation rose to 5.6%, compared with economists’ forecast of 5.50%.

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