Singapore is reviewing its official inflation forecasts, authorities said on Monday after data showed inflation in December rose at the fastest pace in nearly eight years mainly driven by steep increase in air fares.
Core inflation in Singapore rose 2.1% in December compared to the same period last year. Also, the number came in highest since July 2014 and exceeding economist forecasts. Earlier, Reuters poll of economists had a forecast a 1.7% increase.
Headline inflation rose by 4%, a near nine-year high, beating forecast of 3.75%.
