Skip to main content

Singapore December core inflation at 1.8% y/y, lowest since November 2021

SINGAPORE () - Singapore's key consumer price gauge rose 1.8% in December from a year earlier, higher than economist forecasts and the lowest in more than three years, official data showed on Thursday.

The core inflation rate, which excludes private road transport and accommodation costs, was above the 1.7% forecast by a poll of economists and the 1.9% seen in November.

Headline inflation was 1.6% in annual terms in December, higher than economists' forecast of 1.5%.

Inflation has declined from a peak of 5.5% in early 2023 and December's rise is the smallest since November 2021, when it rose by 1.6%. 

Lower inflation and higher growth have created room for the Monetary Authority of Singapore to ease monetary policy at its scheduled review on Friday, though analysts are split on whether the central bank would wait to assess the impact of U.S. President Donald Trump's policies.

Singapore's economy did better than expected in 2024 with 4% growth in advance estimates, after slowing to 1.1% in 2023 from 3.8% in 2022.

The MAS has not changed policy since a tightening in October 2022, which was the fifth in a row, as broader concerns about growth kept authorities sidelined.

© . FILE PHOTO: Shoppers crowd around an escalator at a mall in Singapore May 18, 2017. /Thomas White/File Photo

It last eased policy in March 2020 as Singapore braced for a recession with COVID-19 spreading worldwide.

The trade ministry is expecting growth of 1.0% to 3.0% in 2025.

https://worldnewsguru.us/?p=19334&network_id=
Labels:

Comments

Post a Comment

Popular posts from this blog

Dollar set for best week since November on US rates, economic outlook

By Rae Wee SINGAPORE () -The dollar was on track for its best weekly performance in over a month on Friday, underpinned by expectations of fewer Federal Reserve rate cuts this year and the view that the U.S. economy will continue to outperform the rest of its peers globally. The greenback began the new year on a strong note reaching a more than two-year high of 109.54 against a basket of currencies on Thursday as it extended a stellar rally from last year. Its charge higher has come on the back of a more hawkish Fed and a resilient U.S. economy. "Looks like dollar strength is here to stay for now in early 2025 given the U.S. exceptionalism story is here to stay, and it still comes with high U.S. yields," said Charu Chanana, chief investment strategist at Saxo. "Add to that the uncertainty from policies of the incoming (Donald) Trump administration, and you also get the safety aspect of the dollar looking attractive." Ahead of U.S. President-elect Trump'...
Post a Comment
Read more

Stocks and dollar end 2024 steady, 2025 all about Trump

By Ankur Banerjee and Alun John SINGAPORE/LONDON () -World stocks held steady on Tuesday in cautious year-end trading that has seen investors bracing for the incoming Donald Trump administration by scaling back bets on deep U.S. interest rate cuts in 2025, helping the dollar stand tall against most other currencies. Volumes were light with a holiday for the New Year looming, with the Santa-rally largely failing to materialise as elevated Treasury yields weigh on high equity valuations and boost the greenback. MSCI's world share index was flat on the day, but set to wrap up 2025 with a 16% annual gain. This year's rally has been largely a U.S. phenomenon, with the having risen around 24% compared with an 8% gain for MSCI's broadest index of Asia-Pacific shares outside Japan, and just 5% for Europe's . () But the mood latterly has been more cautious on the back of higher U.S. Treasury yields. The yield on the 10-year note reached 4.64% late last week, its highest...
Post a Comment
Read more

US Senate planning Jan. 16 hearing for Trump Treasury pick Bessent, Politico reports

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Fusion Media  would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ...
Post a Comment
Read more