Singapore August inflation data: Headline CPI +4.0% y/y (expected was also +4.0%)

<p>Headline CPI for August 2023 +4.0% y/y</p><ul><li>expected +4%, prior +4.1%</li></ul><p>The Core rate rose 3.4% y/y in August </p><ul><li>expected +3.5%, prior +3.8%</li></ul><p>Data comes via the Monetary Authority of Singapore (MAS), Singapore's central bank, and the SG Ministry of Trade:</p><ul><li>"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.
</li><li>"Consumer price inflation in Singapore's major trading
partners has also been on a gradual moderating trend," </li></ul><p>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. </p><p>SGD barely changed on the data:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.