By Cynthia Li

(Bloomberg) – Singapore’s key inflation gauge continued to ease from the previous month as food, recreation and culture prices slowed.

The core inflation rate, which excludes housing and private transportation costs, stood at 0.6% in February from a year earlier, lower than the 0.8% the prior month, according to a statement by the Department of Statistics Singapore on Monday.

That compares against the median estimate of 0.7% in a Bloomberg News survey. That’s the slowest pace since June 2021, which also marks the fifth straight month time core inflation has decelerated.