Economic Buzz: Singapore Inflation Accelerates To 4.3% In February

23 Mar 2022 , 01:17 PM

Singapores annual inflation rate accelerated to 4.3% in February 2022 from 4.0% in the previous two months. This was the highest reading since February 2013. The pickup in headline inflation was driven in large part by the 14.8% inflation for transport and to a lesser extent, by higher inflation for healthcare. Upward pressure also came from cost of food that came in at 2.3% as compared to 2.6% in January. Core consumer prices gained 2.2% on year in February, after a 2.4% rise in January which was the most since September 2012. On a monthly basis, consumer prices increased 0.9%, the most in three months, after being flat in January.

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