OCBC Bank’s chief economist & head of treasury research & strategy, Selena Ling, believes that core inflation will remain “challenging” in 2023 as core inflation stood unchanged for the third month running. In her statement on Jan 25, Ling attributes this to “domestic price pressure points” including the 1% increase in Singapore’s GST in January.
Analysts are keeping their 2023 inflation forecasts the same as Singapore’s headline inflation for December 2022 eased while core inflation remained unchanged.
While headline inflation stood lower than Bloomberg’s forecast of 6.7%, core inflation stood slightly above the Bloomberg median estimate of 5.1%.
