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Singapore Inflation Rises in March Amid Higher Transport, Retail Costs
(MENAFN) Singapore’s consumer inflation rose in March, largely driven by higher transport and retail prices amid rising energy costs linked to tensions in the Middle East, according to data released by Statistics Singapore on Thursday.
Headline inflation increased to 1.8% year-on-year in March, up from 1.2% in February, as price pressures intensified across several categories including private transport, retail goods, and services.
Core inflation, which excludes accommodation and private transport to better reflect underlying household expenses, also edged higher to 1.7% in March from 1.4% in the previous month.
The most significant jump was recorded in private transport costs, where inflation surged to 6.6% from 2.4% in February. Officials attributed the rise mainly to higher petrol prices.
Retail and other goods also saw stronger inflation, rising to 1.8% from 0.6%, driven by increased costs for alcohol, tobacco, clothing, and footwear.
Services inflation rose slightly to 2.1%, compared with 2% in February, supported by higher prices for ride services and telecommunications.
Headline inflation increased to 1.8% year-on-year in March, up from 1.2% in February, as price pressures intensified across several categories including private transport, retail goods, and services.
Core inflation, which excludes accommodation and private transport to better reflect underlying household expenses, also edged higher to 1.7% in March from 1.4% in the previous month.
The most significant jump was recorded in private transport costs, where inflation surged to 6.6% from 2.4% in February. Officials attributed the rise mainly to higher petrol prices.
Retail and other goods also saw stronger inflation, rising to 1.8% from 0.6%, driven by increased costs for alcohol, tobacco, clothing, and footwear.
Services inflation rose slightly to 2.1%, compared with 2% in February, supported by higher prices for ride services and telecommunications.
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