Economists trim inflation forecasts after Singapore’s October core, headline inflation reach lowest since 2021
Core inflation at 2.1%, headline at 1.4%
Add BT as a preferred source
SEVERAL private-sector economists have cut their Singapore 2024 and 2025 inflation forecasts, after October’s readings decelerated more than expected to their lowest prints since 2021.
Year on year (yoy), October’s core inflation – which excludes accommodation and private transport – was 2.1 per cent, data from the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) showed on Monday (Nov 25). This was a sharp fall from September’s 2.8 per cent, and was the lowest reading since December 2021, when it was also 2.1 per cent.
The slide was due to a moderation in services, electricity and gas, and in retail and other goods inflation. The reading was also lower than the 2.5 per cent median forecast in a Bloomberg poll of private-sector economists.
TRENDING NOW
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Koh Brothers Eco Engineering faces up to S$57.6 million in potential legal liabilities
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
DayOne secures S$530 million green loan from DBS, OCBC and UOB for Singapore data centre
