For April, headline inflation accelerated to 5.7% y-o-y — slightly higher than Gan’s forecast for the month of 5.5% — while core inflation flatlined at 5.0%.
Singapore’s inflation momentum could slow in the second half of 2023, according to RHB Bank Singapore economist Barnabas Gan.
He expects that core inflation momentum will decline to 0.1% to 0.2% m-o-m in 4Q2023, in line with long-term averages from 2010 to 2019.
