Singapore's April core inflation rises 5%, beating forecast

Core inflation — which excludes private road transport and accommodation costs — rose 5% year-on-year in April. A Reuters poll had forecast a 4.7% increase.

Wei Leng Tay | Bloomberg | Getty Images

Singapore's key consumer price gauge rose 5% in April, higher than forecast, official data showed on Tuesday. Core inflation — which excludes private road transport and accommodation costs — rose 5% year-on-year in April. A Reuters poll of economists had forecast a 4.7% increase. Lower inflation for electricity, gas, food, retail and other goods was offset by higher inflation for travel-related services, according to a joint statement by the Monetary Authority of Singapore, or MAS, and the trade ministry.

"Global supply chain frictions have eased, and consumer goods inflation in the advanced economies has moderated, even as overall core inflation is still high," they said.

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