Singapore's annual inflation eased unexpectedly in February largely on account of lower contributions from food prices and services fees, a joint release from the Ministry of Trade and Industry and the Monetary Authority of Singapore showed Friday.
Inflation slowed to 4.6 percent from 4.8 percent a month ago. Economists were expecting the annual rate to rise to 5 percent. Month-on-month, consumer prices dipped 0.3 percent, after rising 0.9 percent in the preceding month.
Excluding the costs of accommodation and private road transport, MAS core inflation slowed to 3 percent annually in February from 3.5 percent in January.
Both CPI and MAS core inflation will remain elevated over the next few months, at around 5 percent and 3 percent year-on-year, respectively before moderating gradually, the ministry said.
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