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Financial News: Singapore CPI Rises More Than Expected In February

Singapore CPI Rises More Than Expected In February

03/23/2018 - 01:36:00 (RTTNews)

(RTTNews) - Singapore's consumer prices increased at a faster-than-expected pace in February, data from the Ministry of Trade and Industry and Monetary Authority of Singapore showed Friday.

Consumer prices climbed 0.5 percent year-over-year in February, after remaining flat in January. That was just above the 0.4 percent rise economists had forecast.

Food inflation accelerated to 1.5 percent in February from 1.1 percent in the previous month. Similarly, services inflation rose to 1.9 percent from 1.3 percent.

Meanwhile, private road transport inflation eased to 0.6 percent from 1.6 percent and the cost of accommodation registered a decline of 3.6 percent.

MAS Core Inflation, which excludes the costs of accommodation and private road transport, rose to 1.7 percent in February from 1.4 percent in January.

On a monthly basis, consumer prices went up 0.5 percent from January, when it decreased by 0.2 percent.

CPI-All Items inflation came in at 0.6 percent in 2017 and is projected to be 0-1 percent this year. MAS Core Inflation averaged 1.5 percent in 2017 and is expected to stay in the 1-2 percent range in 2018.

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