Singapore’s consumer prices declined in May due to a fall in food and retail inflation, according to reports released by the country’s Monetary Authority (MAS) and the Ministry of Trade and Industry (MTI) on June 23.
|Buildings in Singapore's central business district (source: channelnewsasia.com) |
Singapore – Singapore’s consumer prices declined in May due to a fall in food and retail inflation, according to reports released by the country’s Monetary Authority (MAS) and the Ministry of Trade and Industry (MTI) on June 23.
Notably, core inflation in May dropped to 4.7 per cent, the first time they fell below the 5 per cent mark since July 2022, and lower than the 5 per cent recorded in April.
Meanwhile, the headline consumer price index (CPI) in May picked up by 5.1% year-on-year, down from the 5.7 per cent increase recorded a month earlier, which has largely reflected a decline in private transport prices and core inflation.
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Singapore’s Defence Minister Ng Eng Hen had a meeting with his US counterpart Lloyd Austin at the Shangri-La Singapore hotel on June 2, during which the two sides affirmed their commitment to continue seeking opportunities to promote bilateral defence cooperation.
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Sembcorp Gas Pte Ltd, a subsidiary of Singapore-based energy firm Sembcorp Industries, has signed a deal to import natural gas from Medco E&P Natuna Ltd, a unit of Indonesian oil and gas company PT Medco Energi Internasional Tbk.
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Singapore has for the first time overcome Hong Kong (China), London (UK) and New York (US) to become the most expensive city for an upper-class lifestyle, according to the 2023 Global Wealth and Lifestyle Report released recently by Julius Baer Group based in Switzerland.