Sunday, June 16, 2024
HomeUncategorizedSingapore March Core Inflation Rises 5%, Slightly Less Than Forecast

Singapore March Core Inflation Rises 5%, Slightly Less Than Forecast

Date:

Related stories

Modi’s New Cabinet: India’s Ministerial Leadership in 2024

On June 7th, 2024, Prime Minister Narendra Modi was...

India vs Pakistan: A Nail-Biter Ends in Blue

The Nassau County International Cricket Stadium in East Meadow,...

Ramji Rao: A Legacy of Media and Entrepreneurship in India

Ramji Rao (1936-2024) was a prominent Indian businessman, media...

USA VS Pakistan :USA Shocks Pakistan

The 2024 ICC T20 World Cup kicked off with...

Silicon Valley Stunned by the Fulminant Slashed Investments

I actually first read this as alkalizing meaning effecting...
spot_imgspot_img

Singapore’s key consumer price gauge rose 5% in March, slightly lower than forecast, official data showed on Monday. The core inflation rate – which excludes private road transport and accommodation costs – rose 5% year-on-year in March, lower than the 5.5% rise seen in February. A Reuters poll of economists had forecast a 5.1% increase in March. The rate was driven by lower inflation for services, food, retail and other goods, according to a joint statement by the Monetary Authority of Singapore (MAS) and the trade ministry. Headline inflation was up 5.5% year-on-year in March, compared with a 5.6% increase seen in a Reuters poll. Lee Ju Ye, an economist at Maybank Investment Banking Group, said the slowing was much about last year’s high base from the conflict in Ukraine and its impact on food and energy prices. “Accommodation costs seem to be peaking…while food and private transport costs will likely continue to ease from last year’s,” she said.

“We Expect Both Headline And Core Inflation To Gradually.

ease and do not expect MAS to further move in October.” The MAS left its monetary policy settings unchanged in its review earlier this month, reflecting the concerns about its growth outlook and surprising economists, who had expected another round of tightening on elevated inflation. It has also said core inflation will remain elevated in the next few months but should progressively ease in the second half of 2023 and end the year significantly lower. The central bank said core inflation was expected to average 3.5% to 4.5%, and headline inflation was forecast to come in higher at 5.5% to 6.5% this year.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

LEAVE A REPLY

Please enter your comment!
Please enter your name here