SINGAPORE — Singapore's core inflation fell to 5 per cent year-on-year in March, the first time it has slowed since October 2022.
Singapore's core inflation fell to 5 per cent year-on-year in March, the first time it has slowed since October 2022.
This was due to smaller increases in the prices of prepared meals and non-cooked food prices, said MAS and MTI. Inflation for accommodation eased slightly to 4.8 per cent from 4.9 per cent as the pace of increase in housing rents moderated. "Energy and food commodity prices have fallen below their peaks seen last year. As a result, Singapore’s import prices have declined on year-on-year terms," the authorities added.On the domestic front, unit labour costs are expected to increase further in the near term; and businesses could continue to pass through accumulated such costs to consumer prices albeit at a more moderate pace.
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