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Singapore’s monetary authority signaling is shown outside the headquarters of the Central Bank in Singapore, on October 22, 2019. The Central Bank of Singapore hardened its monetary policy on Thursday, saying that the widely predicted movement will reduce the impulse of inflation.
Ore huiying | Bloomberg | Getty images
Singapore Consumer Price Index It grew 0.9% year after year in FebruaryThat marks its slower growth in four years, said the statistics department in a statement on Monday.
The figure was in line with the expectations of economists surveyed by Reuters, and lower than January 1.2%.
The central inflation, which eliminates the prices of accommodation and private transport, reached 0.6%, less than 0.8% observed in January and 0.7% expected by the Reuters survey.
Inflation in Singapore has been in a downward trend, which carries the country’s monetary authority to loosen your monetary policy For the first time since 2020 in January, citing a faster decrease than expected in inflation and warning about a deceleration of growth.
The monetary authority of Singapore predicted the inflation of the main to average 1.5% –2.5% in 2025, compared to 2.4% in 2024.
But also reduced its forecasts for the central inflation rate in January, which eliminates the prices of accommodation and private transport, to an average of 1% to 2% in 2025, less than 1.5% –2.5% projected in its October 2024 Monetary policy launch.
It is projected that Singapore GDP growth will grow to 1% -3% over 2025, slower than 4.4% seen in 2024.
