Singapore's key consumer price gauge rose 5.5% in February, unchanged from January and lower than forecast, official data showed on Thursday, though while analysts said core inflation appeared to have peaked, prices remained at historic highs.
February's core inflation rate - which excludes private road transport and accommodation costs - compared with a forecast in a Reuters poll of economists for a 5.8% increase in February.
However, the inflation rate in February is still at the same level as in January, which was the fastest pace seen since November, 2008.It has also projected a core inflation rate of between 3.5% to 4.5% in 2023, with headline inflation coming in at between 5.5% and 6.5%. While analysts said inflation in February was below their forecasts, there were divisions over the implications for a monetary policy review MAS will conduct in April.
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