Singapore's core inflation eased to its slowest pace in more than three yea...
SINGAPORE - 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.
“This is further evidence of the weakened condition of the economy,” said Steve Cochrane, chief APAC economist at Moody’s Analytics. The Monetary Authority of Singapore said last week, after the city-state slashed its full-year growth forecast, that it was not considering an out-of-cycle policy move.
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