Singapore inflation rises more than expected in August; core at 2.7%, headline at 2.2%
MAS will likely stand pat at the next monetary policy meeting in October, say economists
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DESPITE inflation rising at a faster-than-expected pace in August, private-sector economists are not expecting the Monetary Authority of Singapore (MAS) to adjust policy settings at the next meeting in October.
August’s core inflation, which excludes accommodation and private transport, was 2.7 per cent, data from the Department of Statistics showed on Monday (Sep 23). This was higher than 2.5 per cent in July, as well as economists’ median estimate of 2.6 per cent.
A sharp rebound in travel costs, which led to the drop in inflation in July, was what drove core prices up, noted Barclays economist Brian Tan.
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