Singapore's Core Consumer Price Index (CPI) for April 2024 remains unchanged at 3.10%, the same level it reached in March 2024, according to the latest data updated on 23 May 2024. This year-over-year comparison shows a consistent inflation rate for the past two months when compared to the same period in the previous year.
The stability in the Core CPI, which excludes the costs of accommodation and private road transport, indicates that underlying inflation trends in Singapore have remained steady. Economic analysts had anticipated fluctuations in core inflation due to variable factors such as global supply chain disruptions and fluctuating commodity prices. However, the unchanged CPI suggests a balancing act between inflationary pressures and economic stabilizers.
Maintaining the Core CPI at this level reflects the efficacy of Singapore’s monetary policies in controlling inflation while supporting economic growth. The steady rate presents an optimistic outlook for consumers and businesses alike, suggesting a period of economic stability amid ongoing global economic uncertainties.
