SINGAPORE (Reuters) -Singapore’s February headline prices rose by their fastest pace in nine years due to higher private transport costs, while core prices eased for the first time since June last year, official data showed on Wednesday.
Headline inflation rose by 4.3%, exceeding economists’ median forecast of 4.2%, according to a statement from the Monetary Authority of Singapore (MAS) . That is the most it has risen since February 2013.
The core inflation rate — the central bank’s favoured price measure — rose to 2.2% in February on a year-on-year basis, a slight ease from the 2.4% in the prior month. A Reuters poll of economists had forecast a 2.5% increase.
The slight ease in core prices in February was due to lower inflation for services, food and electricity and gas, the MAS statement said.
(Reporting by Chen Lin in Singapore; editing by Uttaresh.V)