Singapore Sept core inflation at 2.8% y/y
2024.10.23 01:32
By Xinghui Kok
SINGAPORE (Reuters) – Singapore’s key consumer price gauge rose 2.8% in September from a year earlier, higher than economists’ forecasts, official data showed on Wednesday.
The core inflation rate, which excludes private road transport and accommodation costs, compared with a 2.7% forecast in a Reuters poll of economists and the 2.7% rate in August.
Headline inflation in September was up 2.0% from the same month last year, higher than the 1.9% forecast in the poll.
Core inflation has tapered from a peak of 5.5% in early 2023, and hit a 2-1/2 year low of 2.5% in July.
Earlier this month, the central bank left monetary policy settings unchanged, as an official advance estimate showed economic growth perked up to an annual 4.1% in the third quarter.
The Monetary Authority of Singapore (MAS) said then it expected growth to be at the upper end of the trade ministry’s adjusted GDP growth forecast range of 2.0% to 3.0% for 2024.
The next scheduled review of monetary policy is in January.
