Buildings in Singapore on Monday, February 17, 2025.
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Since February 2021, Singapore’s inflation rate has increased at its lowest rate, increasing January’s year was 1.2%, down from 1.5% of the December revision.
This is the first key economic data since Singapore launched its 2025 budget on February 18, which promises More support for families and businesses Fight the cost of life stress.
In the budget speech, “While inflation is expected to ease further this year, prices are still high. Singaporeans are still adapting to these new price realities,” Prime Minister Lawrence Wong said.
Economists who voted from Reuters expected a 2.15% increase, the title inflation figure was a widespread miss.
The country’s core inflation – deprived of private transport and accommodation prices – rose 0.8% year-on-year,,,,, It was lower than December’s growth of 1.8%, and lower than expected 1.5%.
This number is Singapore in January Relax its monetary policy This is the first time since 2020, citing the potential for inflation to decline faster than expected and growth rates.
Singapore monetary authorities said inflation will remain below 2% this year, “reflecting the returns of low-level base price pressures in the economy.”
Title inflation is expected to be 1.5%–2.5% in 2025, compared with 2.4% in 2024. MAS also lowers its core inflation forecast to an average of 1%-2% in 2025.
After the data was released, the Singapore dollar strengthened by 0.16%, with a trade against Greenguard at 1.3334. Earlier in the day, it appreciated the dollar as much as 1.3307, marking its strongest level since November.
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