Illustrative image (Source: CNN)Singapore’s inflation rate inched up by 0.7 percent in February 2017, marking the highest reading in three years since Q3/2014.
It was also the fourth consecutive month of rise and in line with expectation of the Monetary Authority of Singapore (MAS).
Basic inflation (not including stay and private vehicle fee) of the country rose by 1.2 percent in February 2017 from the previous month’s increase of 1.5 percent.
MAS forecasts Singapore’s average inflation will range from 0.5 percent to 1.5 percent in 2017 while economic specialists expect the inflation rate of 1 percent during the year.
Experts predict MAS is not likely to loosen its monetary policy in an upcoming meeting in April.
They also warn of risks which increase from trade protectionism of the US and the decreasing service sector that shows the weak economy might need more stimulation./.