Investing.com -- Singapore’s core inflation remained at 1.7% year-on-year in March, matching consensus expectations with an unrounded figure of 1.72%. On a monthly basis, core inflation increased by 0.13%.
Land transport costs rose 2.7%, while retail goods prices climbed 0.5%. Tobacco prices surged 10% following tax increases. These gains offset a decline in travel-related prices, which fell 1.5% after rising 2.9% in February. Most other components, including raw food, remained broadly stable.
The Monetary Authority of Singapore and Ministry of Trade and Industry maintained their outlook from April 14 policy statements, noting that risks to the inflation outlook are tilted to the upside, primarily due to supply-side factors.
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