Singapore core inflation rises at fastest pace in nearly 8 years

People walk in and out of the Mass Rapid Transit subway station at the Chinatown district in Singapore on Monday, January 10, 2022. - AFP

SINGAPORE: Singapore's key price gauge climbed in December by its fastest pace in nearly eight years, exceeding economist forecasts, driven by a steep increase in air fares, official data showed on Monday.

The core inflation rate - the central bank's favoured price measure - rose to 2.1% in December on a year-on-year basis, the highest since July 2014. A Reuters poll of economists had forecast a 1.7% increase.

Headline inflation rose by 4%, beating economists' forecast of 3.75%. - Reuters