(Bloomberg) -- Singapore’s core inflation moderated further in August from a year ago, reflecting improvements to supply chains and lower import costs that allow the central bank room to extend its pause on monetary tightening.Most Read from BloombergChinese Gold Buying Is Driving a Paradigm Shift in BullionIndia-Canada Clash Should Be a Wakeup CallIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesWells Fargo Preps for Wealth Battle After $1 Billion TurnaroundCorzine
Core inflation, tracked by the Monetary Authority of Singapore to determine policy settings, came in at 3.4% last month, official data showed Monday. The measure, which excludes housing and private transportation costs, was lower than the median forecast of 3.5% in a Bloomberg survey of analysts.
All-items inflation eased to 4% in August. That matched the forecast by economists in a Bloomberg survey and was slower than the 4.1% reading in July. The figures, the final price print before MAS’s next policy review in October, confirm a deflationary trend in the city-state. That boosts the case for policymakers in the island nation to stand pat for a second straight meeting, although globally the rate outlook differs for individual economies based on local developments.
In the US, the Federal Reserve is on course for a hike in November after a surprise spike in its August inflation print, while an unexpectedly low print in the UK allowed the Bank of England to pause.CPI gains are still elevated and food and energy prices are ticking up again. That suggests households in this city-state still can benefit from a strong currency to lean against rising import costs.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ECB’s Villeroy Says Fuel Jolt Won’t Affect 2% Inflation in 2025The recent increase in oil prices won’t derail the European Central Bank’s fight to tame inflation, according to Governing Council member Francois Villeroy de Galhau.
Read more »
Wells Fargo Preps for Wealth Battle After $1 Billion TurnaroundThree years and nearly $1 billion later, Wells Fargo & Co. is finally playing offense in one of Wall Street’s hottest battlegrounds: wealth management.
Read more »
Even China's 1.4 billion population can't fill all its vacant homesBEIJING (Reuters) - Even China's population of 1.4 billion would not be enough to fill all the empty apartments littered across the country, a former ...
Read more »
Oil price spike does not change ECB's view on inflation-VilleroyPARIS (Reuters) - Bank of France head Francois Villeroy de Galhau, a governing council member of the European Central Bank (ECB), said on Saturday that ...
Read more »
Inflation picks up and India relations roil: Here are the week's top storiesListen to Financial Post reporter Bianca Bharti break down the stories that made headlines. Watch here.
Read more »
Inflation picks up and India relations roil: Here are the week's top storiesIn under a minute, Financial Post Reporter, Bianca Bharti, shares your top stories in finance this week. 1. Inflation picks up 2. Autos: ...
Read more »