Singapore's inflation rate rose to 5.2 per cent on-year in March this year, from 4.6 per cent the previous month.This was attributed to a sharper increase in COE premiums which led to higher car prices.
According to the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI), "private road transport cost added 1.3 percentage points to CPI-All Items inflation in March, slightly more than twice its contribution in February".
In a statement, the MAS said inflation will likely remain elevated over the next few months, before easing gradually in the second half of this year. It reiterated that the CPI-All items inflations is expected to average around 5 per cent year-on-year in the first half of this year, while core inflation is forecast to hover around 3 per cent.
ORIGINAL SOURCE
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