Posted 11/23/2023, 6:46:33 AM
Singapore's Core Inflation Rises to 3.3% in October Amid Higher Services, Goods and Utilities Costs
- Singapore's core inflation rose to 3.3% year-on-year in October, the first increase since March
- Rise due to higher inflation for services, retail/other goods, electricity/gas costs
- Overall inflation rose to 4.7% in October, up from 4.1% in September
- Outlook Core inflation expected to fall to 2.5-3% by December 2023
- Risks remain - upside from commodity price shocks; downside from global growth slowdown