Singapore inflation up 0.7% in March

Whilst core inflation came in at 1.2%.

Singapore prices registered an almost flat growth in March, expanding by a measly 0.7%.

According to a joint release by Monetary Authority of Singapore and Ministry of Trade and Industry Singapore, private road transport inflation eased to 6.9% from 7.1% in February, as the faster pace of increase in car and motorcycle prices was offset by the smaller pickup in petrol prices.

Meanwhile, services inflation went up slightly to 1.6% thanks to a pickup in airfares following price declines in the previous month, even as telecommunication services fees fell.

Food inflation was unchanged at 1.3% even when restaurant prices increased at a faster pace. The growth was dragged by the slowing of non-cooked food inflation.

Accommodation recorded the worst number, after its cost fell by 4% amidst the softness in the housing rental market.

MAS Core Inflation came in at 1.2% in March, the same as in the previous month, as price changes in the core components of the CPI basket were broadly stable.