Singapore’s inflation in March came in at a slower pace than analysts’ expected.
The consumer price index (CPI) rose a slower than expected 3.5 per cent in March, after rising 4.9 per cent in February. Economists polled by Reuters were expecting inflation of 3.75 per cent due to a drop in car prices.
March’s lower inflation was due to smaller price increases across all major categories in the index, with an easing in private road transport cost accounting for the bulk of the moderation.
Private road transport cost rose by 8.6 per cent in March, down from 17.4 per cent a month earlier.