Singapore’s core inflation in February rises to 3.6% amid Chinese New Year spending
SINGAPORE: Singapore’s core inflation in February rose to 3.6 per cent year-on-year – the supreme since July 2023 – partly attributable to the effects of Chinese New Year spending.
The resolve is up from January’s 3.1 per cent and better than the three.4 per cent forecast by a Reuters poll of economists.
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“This was pushed by better services and products and food inflation, partly reflecting seasonal effects associated with the Chinese New Year,” the Monetary Authority of Singapore (MAS) and the Ministry of Substitute and Substitute (MTI) said on Monday (Mar 25).
Core inflation excludes deepest avenue transport and accommodation costs. February’s reading was the supreme since July 2023 when the resolve stood at 3.8 per cent.
Total or headline inflation in February moreover rose to 3.4 per cent year-on-year from 2.9 per cent in January attributable to better accommodation costs.
Source: Reuters
