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Singapore’s core inflation slows as recreation prices fall anew

Cynthia Li / Bloomberg
Cynthia Li / Bloomberg • 1 min read
Singapore’s core inflation slows as recreation prices fall anew
Recreation prices dropped 2% in May compared to a year ago, after also falling 1% in April. Photo: Bloomberg
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Singapore’s key inflation gauge slowed in May due to a continued decline in recreation prices.

The core inflation rate, which excludes housing and private transportation costs, stood at 0.6% in May from a year earlier, according to a statement by the Department of Statistics Singapore. That’s lower than the 0.7% in April and aligns with the median estimate in a Bloomberg News survey of analysts.

The overall inflation rate came in at 0.8% last month, same as the survey median estimate.

Recreation prices dropped 2% in May compared to a year ago, after also falling 1% in April.

The food inflation rate was 1.1% in May, while healthcare costs climbed 2.7%.

Earlier this month, economists from a separate Bloomberg survey cut their outlook for both headline and core inflation for this year by at least 0.4 percentage points (ppts) due to slower global demand and declining global oil prices.

See also: New grant for local firms to seek advice, subsidies as Trump’s tariffs bite

Official estimates project the country’s core inflation to average between 0.5% to 1.5% this year.

The next central bank meeting is scheduled to be held next month.

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