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Asia’s underlying inflation accelerates, signalling further rate hikes

Nomura’s latest inflation scorecard shows that inflation is running hot in Singapore, South Korea and India.

Angela Tan
Published Wed, Aug 17, 2022 · 05:50 AM

WHILE energy and food prices have pushed inflation higher, the underlying price pressure towards core goods and services has accelerated across most Asian economies, signaling further policy rate hikes in the coming months, economists say.

Nomura’s latest estimate of underlying inflation in Asia showed inflation has accelerated further since May, and exceeded central bank targets in all economies except Hong Kong. 

Its latest inflation scorecard shows that inflation is running hot in Singapore, South Korea and India; cold in Hong Kong; and warm for the rest of Asia (Indonesia, Thailand and the Philippines).

Research analysts Sonal Varma and Si Ying Toh said: “With real policy rates still negative across Asia, this points to further policy rate hikes in the coming months, des…

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