SINGAPORE, March 23 (Xinhua) -- Singapore's core inflation rose to 1.4 percent year on year in February, up from 1 percent in January, official data showed on Monday.
In a joint statement, the Ministry of Trade and Industry and the Monetary Authority of Singapore said this was largely because of higher inflation in services, food, and retail and other goods, partly reflecting seasonal effects associated with the Chinese New Year.
On a month-on-month basis, core consumer prices increased by 0.5 percent in February. The core Consumer Price Index, which excludes accommodation and private transport costs, is seen as a key gauge of underlying, demand-driven inflation.
Headline inflation fell to 1.2 percent year on year in February from 1.4 percent in January, the statement said. ■
