Singapore reviews inflation forecasts as core prices near eight-year high

Singapore reviews inflation forecasts as core prices near eight-year high - Reuters

24/1/2022 9:28:00 AM

Singapore reviews inflation forecasts as core prices near eight-year high - Reuters

SINGAPORE (Jan 24): Singapore is reviewing its official inflation forecasts, authorities said on Monday, after data showed its key price gauge climbed in December by the fastest pace in nearly eight years, driven by a steep increase in airfares.The core inflation rate — the central bank's favoured price measure — rose to 2.1% in December on a year-on-year basis, the highest since July 2014 and topping economist forecasts. A Reuters poll of economists had forecast a 1.7% increase.Singapore's central

SINGAPORE (Jan 24): Singapore is reviewing its official inflation forecasts, authorities said on Monday, after data showed its key price gauge climbed in December by the fastest pace in nearly eight years, driven by a steep increase in airfares.The core inflation rate — the central bank's favoured price measure — rose to 2.1% in December on a year-on-year basis, the highest since July 2014 and topping economist forecasts. A

Reuterspoll of economists had forecast a 1.7% increase.Singapore's central bank tightened its monetary policy in October, delivering its first such move in three years, amid mounting cost pressures. Its next policy review is scheduled for April when it is widely expected by economists to tighten further.

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