On the back of higher global oil prices.
The jump seen in headline inflation mainly reflects the different timing of S&CC rebates to HDB residents and the surge in the cost of electricity and gas by 19.1% from a year ago on the back of higher global oil prices.
This chart from Maybank shows that in particular, gas tariffs rose by 12.5% in May to record the highest level since October 2015.
Meanwhile, electricity tariffs surged 21% in the said month.
As a result, housing & utility costs rose for the first time since July 2014 by 0.1%.
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