Singapore Sees Inflation Bump From Lunar New Year Spending
The Southeast Asian economy is expected to grow between 1% and 3% this year, according to official forecasts shared previously.
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Singapore’s core inflation quickened in February as expected on seasonally stronger demand around the Lunar New Year, and is unlikely to worry the central bank as it prepares to review monetary policy settings next month.
The core measure, which excludes housing and private transportation costs, accelerated to 3.6% last month from a year ago, official data showed Monday. That was slightly faster than the median 3.4% gain expected in a Bloomberg survey of economists, and compares with 3.1% in January.