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Singapore reviews inflation forecasts as core prices near 8-year high

The core inflation rate, the central bank's favoured price measure - rose to 2.1% in December on a year-on-year basis,

A view of the Monetary Authority of Singapore's headquarters in Singapore. Photo: Reuters
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Singapore is reviewing its official inflation forecasts, authorities said on Monday, after data showed its key price gauge climbed in December by the fastest pace in nearly eight years, driven by a steep increase in air fares.

The core inflation rate — the central bank's favoured price measure - rose to 2.1% in December on a year-on-year basis, the highest since July 2014 and topping economist forecasts. A Reuters poll of economists had forecast a 1.7% increase.

Singapore's central bank tightened its monetary policy in October, delivering its first such move in three years, amid mounting cost pressures. Its next

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First Published: Jan 24 2022 | 12:03 PM IST

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