Singapore core inflation rises at fastest pace in nearly a decade

SINGAPORE -Singapore’s key consumer price gauge rose in January by its fastest pace in nearly a decade, largely in line with economist forecasts, driven by higher inflation for food, electricity and gas, official data showed on Wednesday.

The core inflation rate — the central bank’s favoured price measure – rose 2.4% in January on a year-on-year basis, the highest since September 2012. A Reuters poll of economists had forecast a 2.5% increase.

Headline inflation rose by 4%, largely in line with economists’ forecast of 4.1%.

(Reporting by Chen Lin in SingaporeEditing by Shri Navaratnam)