Buildings in the business district in Singapore, February 17, 2022. /CFP
Buildings in the business district in Singapore, February 17, 2022. /CFP
Singapore's key consumer price gauge rose in June at its fastest pace in more than 13 years, driven by higher inflation across a broad set of categories including services, food, retail and utilities, official data showed on Monday.
The core inflation rate, the central bank's favored price measure, rose to 4.4 percent year-on-year in June. A Reuters poll of economists had forecast a 4.2 percent increase in June.
Headline inflation rose to 6.7 percent, compared with economists' forecast of 6.2 percent.
Singapore's central bank tightened its monetary policy in a surprise move on July 14, the fourth tightening in the past nine months.
Source(s): Reuters