Chart of the Day: Consumer prices on a slow uptrend

It clocked in at 0.7% YoY in March.

Singapore inflation has been on a slow uptrend since July last year, as this chart from BMI Research showed.

According to BMI Research, the still-low house and car prices will help offset the rise in food and fuel prices, ensuring that inflation remains within the Monetary Authority of Singapore's range.

"We expect inflationary pressures in the city-state to remain fairly manageable for the MAS and this will enable the monetary authorities to maintain the existing policy stance," BMI Research noted.

Headline consumer price inflation (CPI) has remained on a gradual uptrend, coming in at 0.7% YoY in March as compared to 0.6% in January.

Meanwhile, core inflation held steady at 1.2% YoY in March and February.

"With core inflation remaining higher than headline inflation, this suggests that underlying inflationary pressures are rising and we expect headline inflation to tick up in 2017," BMI Research said.

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