Economic news
Singapore June core inflation rises 4.4%, topping forecasts
2022.07.25 09:34
People shop for bags in Singapore April 24, 2017. REUTERS/Edgar Su
SINGAPORE (Reuters) – Singapore’s key consumer price gauge rose in June at its fastest pace in more than 13 years, driven by higher inflation across a broad set of categories including services, food, retail and utilities, official data showed on Monday.
The core inflation rate — the central bank’s favoured price measure – rose to 4.4% in June on a year-on-year basis. A Reuters poll of economists had forecast a 4.2% increase in June.
Headline inflation rose to 6.7%, compared with economists’ forecast of 6.2%.
Singapore’s central bank tightened its monetary policy in a surprise move on July 14, the fourth tightening in the past nine months.
