Singapore's Inflation and Economic Growth

Singapore's core inflation rate rose to 3.3% in October, higher than expected, driven by higher prices for services, retail, and other goods, as well as electricity and gas costs. The central bank kept monetary policy settings unchanged but changed the frequency of policy reviews. The Monetary Authority of Singapore (MAS) predicts a turnaround in economic growth in the second half of next year, with manufacturing output likely bottoming out and activity in financial services potentially picking up.