Singapore's CPI up 2.7 percent in May

(MENAFN) According to figures released by the Department of Statistics, Singapore's Consumer Price Index (CPI) increased 2.7 percent over a year in May, the highest since March 2013, Xinhua reported. The Ministry of Trade and Industry Singapore (MTI) attributed the rise to base effects associated with the fluctuations in Certificate of Entitlement (COE) premiums. Accommodation, services and food edged down, with accommodation cost rising by 0.9 percent compared with 1.1 percent in April, due to a slower pace of increase in imputed rentals on owner-occupied accommodation.