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Singapore's inflation cooled more than expected - Everything Everywhere - 23-04-2024
SINGAPORE--Singapore's inflation cooled more than expected in March, continuing a bumpy trajectory, as prices in key categories like food, transport and utilities rose at a slower pace.
The country's consumer price index climbed 2.7% last month from a year earlier, the Department of Statistics said Tuesday. That compares with the 3.4% increase recorded in February, and was below the median estimate of a 3.1% rise projected in a survey of 11 economists by The Wall Street Journal.
Core CPI, which strips out private road transport and accommodation costs, climbed 3.1% in March from a year earlier, the data showed. That compares with February's 3.6% increase and expectations in the WSJ poll for a 3.5% reading.
Analysts had anticipated that the data would show that price pressures moderated slightly, but stayed elevated, in part due to major concerts held in the city-state that attracted a large number of travelers, boosting service prices. Higher oil prices amid renewed Middle East tensions and geopolitical uncertainty were also seen as supporting oil-sensitive sectors like transport.
Continued high levels of inflation will likely add to expectations the Monetary Authority of Singapore will keep monetary-policy settings tight.
RE: Singapore's inflation cooled more than expected - EvertonDiehard - 23-04-2024
The calculation of inflation in S'pore conveniently excludes private transport and accommodation costs to keep inflation here looking lower than it really is.
RE: Singapore's inflation cooled more than expected - Alice Alicia - 23-04-2024
(23-04-2024, 02:20 PM)Everything Everywhere Wrote: Analysts had anticipated that the data would show that price pressures moderated slightly, but stayed elevated, in part due to major concerts held in the city-state that attracted a large number of travelers, boosting service prices. Higher oil prices amid renewed Middle East tensions and geopolitical uncertainty were also seen as supporting oil-sensitive sectors like transport.
Continued high levels of inflation will likely add to expectations the Monetary Authority of Singapore will keep monetary-policy settings tight.
Clearly the expected numbers was intentionally pushed higher to produce this fake headline.
Report said inflation stay elevated.