Forecasters revise up Singapore’s inflation

Professional forecasters have upped their prediction of inflation in Singapore in 2022 and 2023 amid spiraling prices in the past three months, re-opening of domestic services and loosened COVID-19 restrictions.

According to the quarterly survey published by the Monetary Authority of Singapore (MAS), 21 economists and analysts said CPI-All Items inflation is most likely to come in between 6.0% and 6.4% for 2022, higher than the 5.5%-5.9% range in the previous survey.

Meanwhile, core inflation, exclusive of accommodation and dining costs, was forecast to rise to 4-4.4% from 3.5-3.9%.

For 2023, the CPI-All Items inflation is estimated at 5.2%, much higher than 3.5% while core inflation is predicted at 4% compared to 3.1% in the September survey./.

VNA