Singapore’s inflation in March came in at a slower pace than analysts’ expected.
The consumer price index (CPI) rose a slower than expected 3.5 percent in March, after rising 4.9 percent in February. Economists polled by Reuters were expecting inflation of 3.75 percent due to a drop in car prices.
March’s lower inflation was due to smaller price increases across all major categories in the index, with an easing in private road transport cost accounting for the bulk of the moderation.
Private road transport cost rose by 8.6 percent in March, down from 17.4 percent a month earlier.