The Monetary Authority of Singapore, which kept monetary policy settings unchanged last month, had said that core inflation would stay elevated in the next few months, as accumulated business costs transmit through consumer prices. Headline inflation last month at 5.7% from a year earlier was also quicker than the 5.5% median estimate.
While overall inflation is showing deceleration in many economies, core prices are still stubborn across some countries. That poses a conundrum for policymakers, with some including Singapore opting to pause their tightening cycle while others press ahead with their inflation fight.
