SINGAPORE, June 23 (Xinhua) -- Singapore's core inflation held steady at 1.4 percent year-on-year in May, unchanged from April, official data showed on Tuesday.
The Monetary Authority of Singapore and the Ministry of Trade and Industry said in a joint statement that higher inflation for food and retail and other goods was largely offset by lower services inflation.
On a month-on-month basis, core consumer prices were unchanged in May.
Core inflation, which excludes accommodation and private transport costs, is regarded as a key measure of underlying, demand-driven price pressures.
Headline inflation stood at 1.8 percent year-on-year in May, similar to that in April, the statement said. ■
