Car and petrol prices softened.
After three consecutive months of close to +7.0% increase, private road transport costs slowed to +6.1% in May.
According to Maybank, this is due to the softening of car and petrol prices.
The chart shows how certificate of entitlement premiums also affected private road transport inflation. Latest figures show COE premiums slowed by around YoY. 2%.
Meanwhile, services inflation also moderated to 1.4%, versus 1.7% in April, which MAS attributed to a fall in holiday expenses and air fares.
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