Inflation in Singapore posted its biggest rise in 13 years in June as transport and accommodation costs soared and structural inflation accelerated.
The consumer price index stood at 6.7% in June from a year earlier, according to the statistics office.
This was the biggest increase since 6.8% in September 2008, and beat estimates for a 6.2% increase.
In May, inflation stood at 5.6%.
Transportation costs, weighted in the index at 17.07%, rose 18.8% in June from the previous month.
Food prices, which have a weighting of 21.10%, rose 5.4% while housing and utility costs, which make up 24.84% of the index, rose 5.2%.
Core inflation rose 4.4% in June from a year earlier, compared with a 3.6% rise in May.
For 2022, inflation is forecast at 5%-6%, while structural inflation is forecast to average 3%-4%.
Source: Capital
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.
