S’pore’s inflation rate seen edging higher in April

22 May, 2019 12:00 AM printer

SINGAPORE: Singapore’s headline inflation rate likely edged slightly higher in April due to higher oil and transport costs, a Reuters poll showed on Tuesday.

Singapore’s consumer price index probably rose 0.8 percent from a year earlier in April, the poll showed, accelerating from 0.6 percent in March, report agencies.

“Headline inflation is expected to see a slight uptick on the back of higher oil prices and COE (certificate of entitlement) premiums,” Maybank Kim Eng economist Lee Ju Ye said.

In Singapore, one of the world’s most expensive places for owning a car, buyers have to pay a levy for a “certificate of entitlement” in order to own a car.