This was the highest reading for core inflation since July 2023.
Consumer prices shot up in February on the back of higher services and food inflation partly linked to Chinese New Year spending.
Official data released on March 25 showed that core inflation, which excludes private transport and accommodation costs to better reflect the expenses of households here, rose to 3.6 per cent year on year in February, up from January’s 3.1 per cent.from 2.9 per cent in January on the back of a pickup in accommodation inflation.
Still, the rise in February’s core and overall consumer prices beat analyst forecasts. A Reuters survey of economists had tipped core inflation to come in at 3.4 per cent and overall inflation at 3.3 per cent.
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