Singapore: Inflation inches up in February
March 23, 2017
In February, consumer prices in Singapore stayed flat over the previous month, down from January’s 0.2% growth. According to Statistics Singapore, the reading mainly reflected higher prices for education, clothing and footwear and household durables and services offsetting lower prices for housing and utilities and transport.
Inflation came in at 0.7% in February, a tad up from January’s 0.6%. The result matched market expectations and marked the highest reading since September 2014. The annual average variation in consumer prices inched up from January’s minus 0.4% to minus 0.3%.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, recorded a 1.2% increase in February. This represented a smaller increase than January’s 1.5% reading.