Economic Indicators
Singapore July core inflation rises 4.8%, beating forecasts
2022.08.23 08:26
FILE PHOTO: A view of the city skyline in Singapore December 31, 2020. REUTERS/Edgar Su
SINGAPORE (Reuters) – Singapore’s key consumer price gauge rose in July at its fastest pace in more than 13 years, mainly driven by higher inflation for food, electricity and gas, official data showed on Tuesday.
The core inflation rate — the central bank’s favoured price measure – rose to 4.8% in July on a year-on-year basis. A Reuters poll of economists had forecast a 4.7% increase.
Headline inflation rose to 7%, matching economists’ forecast.
