Some analysts upgrade inflation forecasts; say more relief measures might be needed if prices keep rising

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SINGAPORE: Inflationary pressures are set to persist in Singapore, with latest official data prompting economists from at least two financial houses to upgrade their inflation forecasts.

Core inflation, which excludes private transport and accommodation costs, went up from 3.3 per cent to 3.6 per cent – the index’s peak since December 2008 when core inflation came in at 4.2 per cent.

Still, the economists have raised their full-year inflation forecasts to account for stronger-than-expected price pressures, especially from energy and food, as well as elevated Certificate of Entitlement (COE) premiums and rental costs.

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Category: Economy

Topics: Monetary Core Cent Economists Prices Inflation Headline Singapore Policy Year Food

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 19:47:52

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 7 minutes read

Article Length: 1232 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 5848

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Main Topics: Economy

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