Headline CPI for August 2023 +4.0% y/y
- expected +4%, prior +4.1%
The Core rate rose 3.4% y/y in August
- expected +3.5%, prior +3.8%
Data comes via the Monetary Authority of Singapore (MAS), Singapore's central bank, and the SG Ministry of Trade:
- "Global supply chain frictions have largely eased, and food commodity prices remain below year-ago levels," joint statement by the Monetary Authority of Singapore (MAS) and the trade ministry.
- "Consumer price inflation in Singapore's major trading partners has also been on a gradual moderating trend,"
The MAS is expected to keep monetary policy settings unchanged in its review next month. Growth is still weak in Singapore. While inflation is still-elevated it is easing, which is seen as giving the central bank room to hold steady.
SGD barely changed on the data:
