Core inflation in Singapore in June rises 4.4%, beating forecasts

SINGAPORE (Reuters) – Singapore’s main consumer price indicator rose in June at its fastest pace in more than 13 years, led by higher inflation across a wide range of categories, including services, food, retail and utilities, according to official data released on Monday.

The core inflation rate – the central bank’s preferred price measure – hit 4.4% in June on an annual basis. A Reuters poll of economists had forecast a 4.2% increase in June.

Headline inflation reached 6.7%, against 6.2% predicted by economists.

Singapore’s central bank tightened monetary policy in a surprise decision on July 14, the fourth tightening in the past nine months.

(Reporting by Chen Lin in Singapore; Editing by Ed Davies)