Consumer Price Developments in April 2023
This April 2023 report contains an update of the latest consumer price developments in Singapore, prepared by MAS and the Ministry of Trade and Industry.
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Summary
• MAS Core Inflation came in at 5.0% on a year-on-year (y-o-y) basis in April, unchanged from March. o Lower inflation for electricity & gas, food and retail & other goods were offset by higher inflation for travel-related services.
• CPI-All Items inflation rose to 5.7% y-o-y in April, from 5.5% in March.
o This reflected higher inflation for services and private transport.
• On a month-on-month (m-o-m) basis, core CPI picked up by 0.4% in April, mainly due to the higher cost of holiday expenses and airfares. CPI-All Items rose by 0.1% over the same period on account of an increase in private transport costs, in addition to higher core CPI.
CPI-All Items inflation rose to 5.7% y-o-y in April.
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