Inflation in Singapore has slowed down
2022.11.23 00:20
Inflation in Singapore has slowed down
Budrigannews.com – Official statistics published on Wednesday that Singapore’s key inflation by 5.1% in October, which was slightly lower than anticipated and below the previous month. This was due to smaller increases in the prices of utilities, retail, and other goods.
The core inflation rate, which is the preferred price measure for the central bank, increased from 5.3 percent in September to 5.1% in October.Reuters’ survey of economists had predicted a 5.3% increase in October.
The title pace of expansion was 6.7%, down from the 7.5% increment in September.7.1% was the financial specialists’ expectation for October.
The central bank had previously predicted that core inflation would remain elevated for the remainder of 2022 and the first half of 2023 at approximately 5%.
The city-state tightened its monetary policy for the fourth time this year last month in an effort to combat inflation.
