Singapore: The core inflation rate - which excludes private road transport and accommodation costs - rose 5% year-on-year in March.
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.
Headline inflation was up 5.5% year-on-year in March, compared with a 5.6% increase seen in a Reuters poll. "Accommodation costs seem to be peaking...while food and private transport costs will likely continue to ease from last year's," she said. 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.
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