Singapore CPI rises 2.7pc in May

SINGAPORE, June 23 (Xinhua): Singapore's Consumer Price Index (CPI) rose 2.7 per cent year-on-year in May, the highest since March 2013, according to figures released by the Department of Statistics on Monday.

The private road transport cost, which jumped by 8.1 per cent, is the main drive that pushed up the figure. MAS and the Ministry of Trade and Industry Singapore (MTI) attributed the rise to base effects associated with the fluctuations in Certificate of Entitlement (COE) premiums.