Singapore's core inflation rises to 1.4 pc in February

SINGAPORE: Singapore's core inflation rose to 1.4% year-on-year in February, up from 1% in January, official data showed on Monday.

In a joint statement, the Ministry of Trade and Industry and the Monetary Authority of Singapore said this was largely because of higher inflation in services, food and retail and other goods, partly reflecting seasonal effects associated with the Chinese New Year.

On a month-on-month basis, core consumer prices increased by 0.5% in February. The core Consumer Price Index, which excludes accommodation and private transport costs, is seen as a key gauge of underlying, demand-driven inflation.

Headline inflation fell to 1.2% year-on-year in February from 1.4% in January, the statement said.

By RSS/Xinhua