SINGAPORE — Singapore’s key consumer price gauge rose 0.6 percent in May from a year earlier, official data showed on Monday, matching economists’ forecasts.
The core inflation rate, which excludes private road transport and accommodation costs, was in line with a forecast rate of 0.6 percent in a Reuters poll of economists.
Headline inflation was 0.8 percent in annual terms in May, also matching the median poll forecast of 0.8 percent.
It was the fifth consecutive month where the annual core rate was below 1 percent.
Singapore’s growth outlook has dimmed due to the economic uncertainty from US tariffs. In April, the central bank loosened monetary policy for the second time this year and lowered forecasts for both core and headline inflation to 0.5 percent to 1.5 percent.
Singapore has also downgraded its GDP forecast for 2025 to 0 percent to 2 percent growth, with officials saying the city-state faces a risk of recession and job losses.
