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Forecasters revise up Singapore’s inflation

Professional forecasters have upped their prediction of inflation in Singapore in 2022 and 2023 amid spiraling prices in the past three months, re-opening of domestic services and loosened COVID-19 restrictions.
Forecasters revise up Singapore’s inflation ảnh 1Illustrative image (Photo: Xinhua)

Singapore (VNA) – Professional forecasters have uppedtheir prediction of inflation in Singapore in 2022 and 2023 amid spiraling pricesin the past three months, re-opening of domestic services and loosened COVID-19restrictions.

According to the quarterly survey published by the Monetary Authority of Singapore (MAS), 21 economists andanalysts said CPI-All Items inflation is most likely to come in between 6.0%and 6.4% for 2022, higher than the 5.5%-5.9% range in the previous survey.

Meanwhile, core inflation, exclusive ofaccommodation and dining costs, was forecast to rise to 4-4.4% from 3.5-3.9%.

For 2023, the CPI-All Items inflation is estimated at 5.2%, much higherthan 3.5% while core inflation is predicted at 4% compared to 3.1% in theSeptember survey./.

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