Headline inflation forecast could be raised in April, monetary policy to stay

SINGAPORE'S core inflation returned to positive territory for the first time after over a year, as prices of services and food rose in February, said the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) in a statement on Tuesday.

Core consumer price index (CPI), which excludes accommodation and private transport, rose 0.2 per cent year on year in February, up from the -0.2 per cent registered in January.

This is the highest core CPI reading, a key indicator that the central bank uses to guide monetary policy, since January 2020.