Title: Singapore April core inflation rises 3.3%, fastest in a decade
- analysiswatch
- May 23, 2022
- 1 min read
May 23, 2022 02:45AM ET
By: AnalysisWatch
Singapore's main consumer price index rose at its fastest pace in a decade in April, driven by higher food inflation, official data showed on Monday.
The core inflation rate-the central bank's preferred price measure-rose to 3.3% year-on-year in April, the highest since February 2012. A Reuters poll of economists had forecast a 3.4% increase.
Headline inflation rose to 5.4%, the fastest since April 2012, while economists had expected 5.5%.
Singapore's central bank tightened its monetary policy in two steps last month as the city-state stepped up its fight against rising prices exacerbated by the Ukraine war and global supply shortages.
Comments