Singapore core inflation eases to 3.1% in January, but February data may pick up on CNY effect

On a month-on-month basis, core consumer prices rose by 0.6 per cent in January. PHOTO: ST FILE

SINGAPORE (The Straits Times/ANN): Consumer prices have eased in January on the back of lower services and food inflation, beating analysts’ estimates in a surprise development.

But the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS) cautioned that core inflation is expected to pick up in February – a warning also given by some analysts.