Posted 3/25/2024, 6:58:40 AM
Singapore Inflation Accelerates to 7-Month High as Lunar New Year Boosts Prices
- Singapore's February core inflation rose to 3.6% year-on-year, the fastest pace in 7 months, partly due to Lunar New Year effects
- Headline consumer prices in February increased 3.4% from a year earlier, exceeding forecasts
- Core inflation is expected to moderate over the rest of 2023 as import cost pressures ease
- The government maintained its 2023 headline and core inflation forecasts of 2.5-3.5%
- The Monetary Authority of Singapore is projected to keep monetary policy unchanged this year
