SINGAPORE, May 25 (Xinhua) -- Singapore's Consumer Price Index (CPI)-All Items inflation held steady at 1.8 percent year-on-year in April, unchanged from March, official data showed on Monday.
In a joint statement, the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry said higher private transport and accommodation costs were offset by easing core inflation.
Private transport inflation accelerated to 8.1 percent in April from 6.6 percent in March, driven by larger increases in petrol and car prices.
On a month-on-month basis, CPI-All Items fell 0.3 percent in April.
Meanwhile, the country's core Inflation, which excludes prices of private transport and accommodation, eased to 1.4 percent year-on-year in April, from 1.7 percent in March. This was due to lower services and retail and other goods inflation.
On a month-on-month basis, the core prices edged up by 0.2 percent in April.
The authorities warned that imported cost pressures are likely to intensify in the coming months as higher energy and input costs linked to Middle East tensions filter through global supply chains, raising production and transport costs for imported goods and services.
Domestically, wage growth is expected to moderate this year, while consumer spending could become more cautious amid rising economic uncertainty.
MAS Core Inflation and CPI-All Items inflation are projected to average between 1.5 percent and 2.5 percent in 2026.
Authorities said risks to the inflation outlook remain tilted to the upside, although weaker global growth could dampen inflationary pressures. ■