The most recent figures from the Monetary Authority of Singapore ( MAS ) released on Wednesday ( Apr 23 ), showing that Singapore’s core inflation eased 0.5 % year-on-year in March from 0.6 % in February.  ,
This is the figure’s seventh consecutive prices drop, and it’s also a fresh four-year low. The next day core inflation reached 0.5 % was in March 2021.  ,
MAS core cpi decreased by 0.1 % on a month-over-month base. Accommodation and personal transportation are excluded from this core inflation measure. The decline was caused by lower inflation in all of the main Consumer Price Index ( CPI ) categories, with the exception of food.  ,
The CPI is frequently used as a gauge of consumer value inflation. It records changes in the price of a predetermined range of consumer goods and services that regular residents of common cities regularly purchase.  ,
The highest amount CPI-All Items sign, which includes food and all categories, is CPI-All Items.
Nevertheless, the CPI-All Items , which was unchanged from February at 0.9 percent year over year in March, remained intact. This was attributed to the lower prices in another significant CPI box groups, such as hotel, which was offset by a larger increase in the cost of food and personal transportation.  ,
CPI-All things also decreased by 0.1 % month over month.  ,
Prices OUTLOOK  ,
According to MAS and the Ministry of Trade and Industry ( MTI), both MAS core inflation and CPI-All Items inflation are expected to range between 0.5 % and 1.5 % on average.  ,
Due to strong provide and strong international demand, which are likely to result in lower crude oil prices than they have been since 2024, import inflation is expected to remain mild.  ,
Despite the rise of global trade tensions, disinflationary forces brought on by weaker international demand are likely to be more than offset by them, according to MAS.  ,
Unit labor costs are projected to rise slowly as the minimum wage and, according to MAS and MTI, growth eases as productivity rises.
” At the same time, enhanced government subsidies for essential services like public healthcare, pre-school education , and public transportation will continue to dampen services inflation.”