Singapore inflation edges higher to 5.3% in June

SINGAPORE: Inflation in Singapore continues to climb with housing and transport costs topping the increase.

The consumer price index, a key gauge of inflation, rose to 5.3 per cent year-on-year in June, according to a statement from the Department of Statistics.

The data exceeded market expectations of a 5.1 per cent increase.

Prices remain firm as the effect of housing becomes stronger, gaining 9.7 per cent in June, with the cost of accommodation increasing by 10.8 per cent on-year.

Transport cost gained 8.7 per cent last month from 2011, with the increase mainly in private road transport because of higher car prices.

Measured month-on-month, the index was unchanged after climbing 0.1 per cent in May.

MAS Core Inflation, which excludes the costs of accommodation and private road transport, was unchanged at 2.7 per cent for the third straight month.

- CNA/wm