Singapore March core inflation rises 5%, slightly less than forecast

SINGAPORE: Singapore’s key consumer price gauge rose 5% in March, slightly lower than forecast, official data showed on Monday.

The core inflation rate - which excludes private road transport and accommodation costs - rose 5% year-on-year in March, lower than the 5.5% year-on-year increment seen in February.

A Reuters poll of economists had forecast a 5.1% increase in March.

The rate was driven by lower inflation for services, food, retail and other goods.

Headline inflation was up 5.5% year-on-year in March, compared with a forecast 5.6% increase in a Reuters poll.

Japan inflation unchanged at 3.1% in March: official data

Earlier this month, MAS said core inflation will remain elevated in the next few months but should progressively ease in the second half of 2023 and end the year significantly lower.