Inflation & Prices
Singapore Inflation at Highest in 14 Years on Food, Fuel
- Core inflation quickens to 4.8%, all-items gauge at 7% in July
- Chilled poultry prices touch highest on record, so does gas
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Singapore’s key core inflation measure climbed to the highest level in almost 14 years last month, heaping pressure on monetary policy makers to do more to fight price gains.
The core inflation gauge, which excludes private transport and accommodation, rose 4.8% in July from a year ago, according to a joint statement from the Monetary Authority of Singapore and the Ministry of Trade and Industry on Tuesday. That was the highest since November 2008 and compares with the 4.7% median estimate in a Bloomberg survey.