STI slips 12 points; focus on US inflation
Market fails to maintain early gains despite strong report card for Singapore economy and sterling bank results
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INFLATION fears continue to linger, with sentiment fragile ahead of the release of two key inflation indicators in the US - the Consumer Price Index (CPI) on Wednesday and the Producer Price Index (PPI) on Thursday.
"This is going to be one of the most watched data releases on inflation that we've seen in recent memory," Michael Arone, chief investment strategist at State Street Global Advisors, told Barron's.
David Blitzer, managing director and chairman of the S&P Index Committee, noted that while the CPI and PPI show an upward trend in inflation since 2015 - reflecting rising oil prices in 2016-17 as well as an improving US economy - there are no hints of surging prices any time soon.
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