The core inflation figure for February is the highest since July 2023.
A street stall in Chinatown selling Chinese New Year ornaments on Jan 26, 2024. SINGAPORE: Singapore’s core inflation in February rose to 3.6 per cent year-on-year - the highest since July 2023 - partly due to the effects of Chinese New Year spending."This was driven by higher services and food inflation, partly reflecting seasonal effects associated with the Chinese New Year," the Monetary Authority of Singapore and the Ministry of Trade and Industry said on Monday .
Accommodation inflation increased to 3.9 per cent from 2.1 per cent in January as additional Service & Conservancy Charges rebates, which were disbursed in January, were not disbursed in February. Electricity and gas inflation edged down to 5.3 per cent because of the slower pace of increase in electricity costs.
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