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Singapore core inflation rate at the lowest in nearly four years in February

The core inflation rate in Singapore for February was reported at its lowest in nearly four years, standing at 3.6% year-on-year, down from 3.8% in January. This decline was influenced by a decrease in the cost of services, food, and retail goods. Specifically, services inflation eased to 3.9% from 4.2%, food inflation dropped to 4.8% from 5.0%, and retail inflation fell to 2.5% from 2.7%. However, the overall consumer price index (CPI) rose by 3.4% in February, slightly up from 3.3% in January, driven by higher private transport costs due to increased car prices and a smaller decline in petrol prices. Despite the easing of core inflation, the Monetary Authority of Singapore (MAS) is expected to maintain its current monetary policy settings, with no changes anticipated until at least October, as they monitor the economic recovery and inflation trends.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/markets/singapore-core-inflation-rate-at-the-lowest-in-nearly-four-years-in-february/ar-AA1BwGzd ]