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Singapore inflation rises to 0.5% in February



SINGAPORE: Singapore's headline inflation rate rose to 0.5 per cent in February from after flatlining at 0 per cent in January.

There was a stronger pickup in the prices of services and food and a milder decline in the cost of accommodation which, together, more than offset a fall in private road transport inflation, said the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) on Friday (Mar 23).
The cost of accommodation fell by 3.6 per cent in February, moderating from the 5.3 per cent decline in the month before, as the dampening effect of the disbursement of Service & Conservancy Charges rebates in January dissipated.
Services inflation increased to 1.9 per cent in February from 1.3 per cent in January, with a rise in airfares and holiday expenses.

Food inflation rose to 1.5 per cent in February from 1.1 per cent in the previous month, reflecting a larger increase in the prices of non-cooked food items, and to a lesser extent, the cost of prepared meals, due to the seasonal uptick in food prices at Chinese New Year.

Private road transport inflation slowed to 0.6 per cent in February from 1.6 per cent in January, said the two agencies.
AdvertisementAdvertisementHowever, core inflation, which excludes the costs of accommodation and private road transport, nudged up to 1.7 per cent from 1.4 per cent the previous month. This reflected higher services and food inflation, said MAS and MTI.

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