Singapore's core inflation rate for February rose to 3.6% year-on-year, marking the highest rate since July 2023. This increase was above the forecasted 3.4%, indicating a significant rise from the previous month's 3.1%. The overall Consumer Price Index (CPI) also saw a rise, reaching 3.4% year-on-year from an expected 3.3% and a previous rate of 2.9%. The month-on-month non-seasonally adjusted CPI showed a 1% increase, contrasting with a previous decrease of 0.7%. This inflationary pressure is attributed to higher costs in healthcare, recreation goods, and services, and was partly driven by seasonally stronger demand around the Lunar New Year.
Singapore’s core inflation quickened in February as expected on seasonally stronger demand around the Lunar New Year https://t.co/efME1U9hvv
Singapore February core inflation rises to 3.6% y/y, highest since July 2023 https://t.co/q6tsjFAbsM https://t.co/OV82kaz9XJ
⚠️ SINGAPORE FEBRUARY CORE INFLATION RISES TO 3.6% Y/Y Full Story → https://t.co/hpsFufv8bA Singapore's core inflation rose 3.6% in February from a year earlier, above estimates, amid higher costs of healthcare to recreation goods and services, official data showed Monday. https://t.co/6EDVtDOLrt
🇸🇬 Singapore CPI (YoY) (Feb) $SGD Actual: 3.4% 🟢 Expected: 3.3% Previous: 2.9%
🇸🇬 Singapore Core CPI (YoY) (Feb) $SGD Actual: 3.60% 🟢 Expected: 3.40% Previous: 3.10%
🔴 SINGAPORE CPI MOM NSA ACTUAL 1% (FORECAST -, PREVIOUS -0.7%) $MACRO