Inflation stable as lower housing costs offset transport rise

Headline and core inflation came in at 2.7% and 3.1% YoY, respectively.

CPI-All Items inflation and MAS core inflation remained unchanged in April from March, at 2.7% YoY and 3.1% YoY, respectively.

On an MoM basis, headline inflation rose by 0.1%, whilst core inflation increased by 0.4%.

The Ministry of Trade and Industry (MTI) said headline and core inflation remained stable as lower accommodation offset the increase in private transport costs.

In April, accommodation inflation eased to 3.5% YoY from 3.7% YoY in March amidst "smaller increases in housing rents and the cost of housing maintenance and repairs."

Services (3.5%) and Food (2.8%) prices also eased in April.

On the other hand, private transport costs increased by 0.3% as car prices fell slower and petrol prices rose more steeply.

Other expenditure divisions which saw increases include Retail & Other Goods (1.6% YoY) and Electricity & Gas (7.6%).