FX.co ★ Singapore's Core CPI Shows Decrease in March 2024

Singapore's Core Consumer Price Index (CPI) for March 2024 has shown a decline compared to the previous month, according to recent data updated on April 23, 2024. The current indicator stands at 3.1%, down from 3.6% in February 2024. This decrease indicates a slowing in the rate of inflation for essential goods and services in Singapore.

The Core CPI measures the change in the price of goods and services, excluding food and energy, to provide a more accurate reflection of underlying inflation trends. The Year-over-Year comparison reveals that despite the dip in March, the Core CPI remains higher than the same month a year ago. This data suggests that while inflation may have eased slightly in the short term, Singapore continues to experience price growth over the longer term.

Economists will be closely monitoring future CPI data to assess the overall impact on the Singaporean economy and to determine if further policy adjustments are necessary to maintain stability and economic growth.