In February 2024, Singapore’s Consumer Price Index (CPI) surged to 3.4%, surpassing the previous indicator of 2.9% in January 2024. This increase reflects a significant uptick in inflation within the country. The data, which was updated on 25th March 2024, compares the CPI on a Year-over-Year basis, showcasing the change in consumer prices from February 2023 to February 2024.The rise in CPI indicates a potential increase in the cost of living for individuals in Singapore and could have implications for the overall economy. As inflation continues to climb, policymakers may need to closely monitor the situation to ensure the stability of the economy and implement necessary measures to mitigate any adverse effects on consumers and businesses alike. The CPI serves as a crucial measure of inflation and plays a fundamental role in shaping economic policies and decisions within the country.The material has been provided by InstaForex Company – www.instaforex.com
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