SINGAPORE - Core inflation last month fell into negative territory - the first time in a decade - as the coronavirus outbreak sent airfares and holiday expenses slumping.
The core inflation and overall inflation forecast ranges will be released in MAS' upcoming monetary policy statement, they said, by passing usual forecasts stated in the monthly inclation reports. Private transport inflation was also lower due to a smaller increase in car and petrol prices, falling to 2.4 per cent last month from 4.6 per cent in January.
Accommodation costs registered a larger increase, going up to 0.4 per cent last month, from 0.3 per cent the month earlier, in line with a stronger pickup in housing rentals. "Oil prices declined sharply in March and could stay depressed for an extended period amid the global economic slowdown and an anticipated rise in oil supply," they said.
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