SINGAPORE, April 23 (Xinhua) -- Singapore's inflation rose to 1.8 percent in March amid higher fuel prices, official data showed Thursday.
The overall consumer price index (CPI) in the country accelerated from 1.2 percent in February, due to higher private transport, retail & other goods and services inflation, the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry Singapore (MTI) said in a joint statement.
Singapore's imported cost pressures are expected to rise in the coming months as higher energy and input costs linked to Middle East developments feed through global supply chains, lifting production and transport costs, according to the statement.
Domestically, services unit labor cost growth is likely to ease as wage increases moderate, while consumer spending may turn more cautious amid economic uncertainty.
Against this backdrop, MAS Core Inflation and CPI-All Items Inflation are projected to average 1.5 percent to 2.5 percent in 2026.
Risks to the inflation outlook are tilted to the upside, particularly from prolonged energy supply disruptions or shortages of key inputs.
However, weaker global demand or tighter financial conditions could dampen economic activity and ease inflation, said the statement. ■
