Singapore’s core inflation, exclusive of private transport and accommodation costs, rose 5% year on year in March, lower than the 5.5% recorded in February and experts’ estimate of 5.1%.
Hanoi (VNA) – Singapore’s core inflation, exclusiveof private transport and accommodation costs, rose 5% year on year in March,lower than the 5.5% recorded in February and experts’ estimate of5.1%.
According to the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS), itis the first time the core inflation has slowed since last October.
Theysaid the moderation was driven by smaller increases in prices of services, food,retail and other goods. Headline inflation came in at 5.5% year on year in March, lower than a 5.6% increase in a Reuters poll.
In its report releasedon April 14, the MAS decided to maintain its monetary policy after fiveconsecutive tightenings since October 2021, citing the increasing global growthrisks and a tendency for easing inflation.
The MAS also forecastthat core inflation will still ease in the coming months, but will gradually dropin the second half of this year and decrease sharply in the end-of-year period.
🧸 It also predicted that core inflation will stand at 3.5- 4.5% on averageand headline inflation is expected to be at 5.5-6.5% this year./.
Singapore’s business outlook for the second quarter of 2023 has darkened again, weighed down by negative sentiment in the manufacturing and wholesale trade sectors, according to the latest Business Optimism Index (BOI) released by the Singapore Commercial Credit Bureau (SCCB).
The Singaporean economy grew only 0.1% year-on-year in the first quarter of 2023, slowing from 2.1% growth in the previous quarter, according to official estimates released by the Ministry of Trade and Industry (MTI) on April 14.
After focusing on curbing inflation, the Monetary Authority of Singapore (MAS) has decided to pause monetary policy tightening as it considers growing risks confronting the economy.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
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In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
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Illustrative image (Photo: AFP) 
