Singapore's core inflation rose to 2.7% YoY in August, driven by increased services costs.

In August, Singapore's core inflation reached 2.7% year-on-year, marking its first rise in six months, driven by increased services costs. Headline inflation eased to 2.2% due to falling private transport prices. Both inflation rates surpassed economists' forecasts. The Monetary Authority of Singapore maintains its 2022 inflation predictions, expecting core inflation to average between 2.5% and 3.5%, and overall inflation to range from 2% to 3%.

September 23, 2024
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