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Singapore core inflation rises at fastest pace in nearly 8 years -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: View of Singapore residential properties on November 17, 2020. REUTERS/Edgar Su

SINGAPORE, (Reuters) – Singapore’s main price index climbed at an unprecedented pace in December, surpassing economists predictions. This was due to a sharp rise in airfares, according to official data on Monday.

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. An economist poll by Reuters had predicted a 1.7% growth.

Inflation headline rose by 4% in January, surpassing economists’ prediction of 3.75%.

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