SINGAPORE: Singapore's consumer price index (CPI) rose
1.2 per cent in March from a year ago as higher food and healthcare
costs offset a drop in transport cost, the Department of Statistics said
on Wednesday.
The rise in last month's CPI was slightly higher than the median estimate of 1.1 per cent by economists who took part in a Reuters poll.
The increase also exceeded February's 0.4 per cent gain, which was the lowest in four years.
Healthcare costs jumped 3.4 per cent in March from a year ago, while food prices increased by 2.9 per cent.
Transport costs fell 2.1 per cent from a year ago although they were 0.8 per cent higher compared with February.
The Monetary Authority of Singapore's core inflation measure, which excludes accommodation and private road transport, rose 2.0 per cent in March from a year ago.
Looking ahead, the Ministry of Trade and Industry (MTI) and MAS said domestic cost pressures -- particularly those stemming from the tight labour market -- are likely to
remain the primary source of inflation.
Car prices are expected to add negligibly to inflation for the whole of 2014, while imputed rentals on owner-occupied accommodation will likely stabilise given the large supply of newly-completed housing units.
CPI-All Items, or headline inflation is projected to come in at 1.5 to 2.5 per cent in 2014, while core inflation is expected to stay elevated at 2 to 3 per cent.
The rise in last month's CPI was slightly higher than the median estimate of 1.1 per cent by economists who took part in a Reuters poll.
The increase also exceeded February's 0.4 per cent gain, which was the lowest in four years.
Healthcare costs jumped 3.4 per cent in March from a year ago, while food prices increased by 2.9 per cent.
Transport costs fell 2.1 per cent from a year ago although they were 0.8 per cent higher compared with February.
The Monetary Authority of Singapore's core inflation measure, which excludes accommodation and private road transport, rose 2.0 per cent in March from a year ago.
Looking ahead, the Ministry of Trade and Industry (MTI) and MAS said domestic cost pressures -- particularly those stemming from the tight labour market -- are likely to
remain the primary source of inflation.
Car prices are expected to add negligibly to inflation for the whole of 2014, while imputed rentals on owner-occupied accommodation will likely stabilise given the large supply of newly-completed housing units.
CPI-All Items, or headline inflation is projected to come in at 1.5 to 2.5 per cent in 2014, while core inflation is expected to stay elevated at 2 to 3 per cent.
- CNA/nd
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