Singapore Cuts 2019 Core Inflation Forecast As Prices Hit Three Year Low

www.oann.com | 10/11/2017 | Staff
TaylorShaye (Posted by) Level 3
SINGAPORE (Reuters) – Singapore’s core inflation eased to its slowest pace in more than three years in July, data showed on Friday, prompting authorities to downgrade their full-year forecast amid firming bets for monetary policy easing.

The core inflation gauge rose 0.8% from a year earlier, the slowest rate since April 2016, weighed down by declines in utilities and retail prices. That was lower than a 1.0% forecast in a Reuters poll and 1.2% increase in the previous month.

Authorities - Core - Inflation - Price - Gauge

Authorities said they expected core inflation – the preferred price gauge of the central bank which is due to meet in October – to be in the lower half of their 1%-2% forecast for 2019, having previously said it would come in the middle.

“This is further evidence of the weakened condition of the economy,” said Steve Cochrane, chief APAC economist at Moody’s Analytics.

Expectations - Policy - Particularly

“This will likely raise expectations of monetary policy easing… Particularly as...
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