Singapore core inflation eases to 3.1% in January on lower services and food price hikes

News Snapshot:

SINGAPORE - Consumer prices eased in January on the back of lower services and food inflation, in line with full-year projections that both core and headline inflation will continue their downward trend. Official data on Feb 23 showed that core inflation, which excludes private transport and accommodation costs to better reflect the expenses of households here, came in at 3.1 per cent year on year in January. The easing comes despite the rise in goods and services tax (GST) to 9 per cent in January from 8 per cent in December. The January figure, led by a slower rise in...