Drop in core inflation unlikely to delay more monetary policy tightening in April

Singapore

CORE inflation came in a shade below analyst expectations in February - but the latest reading is not expected to deter the Monetary Authority of Singapore (MAS) from tightening policy next month.

That's as policymakers will have to contend with a rise in food and fuel prices, exacerbated by the Russian invasion of Ukraine, as well as the growing threat of "stagflation".

"The Ukraine-Russia conflict intensified in March and both food and energy prices surged," Maybank senior economist Chua Hak Bin told The Business Times in an e-mail.

"Core inflation likely jumped."

The MAS and Ministry of Trade and Industry (MTI) on Wednesday (Mar 23) reported that core inflation, which excludes private transport and accommodation, eased to 2.2 per cent in …