Is this a new normal, or just a bump on the road to higher prices ?
Industrial production also weakened in April.
Here’s more from Morgan Stanley Research:
|Singapore - Inflation (Jun 23) and Industrial Production (Jun 24) for May:Inflation has likely peaked in Singapore as car price inflation slows and commodity prices soften. We expect headline inflation to decelerate further in May. On industrial production, the recent weakness in April numbers both in biomed and non-biomed coincides with the global soft patch we have seen recently. We would refrain from extrapolating a single datapoint as a trend but the next few months of data would be important to ascertain whether this is a blip or whether there is renewed weakness in the economy.|
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