MAS survey reveals higher full-year inflation, according to economists and analysts
Singapore. Based on a survey released by MAS, the 2022 headline inflation is set to be 5.5% to 5.9%. This is higher than the previously expected inflation of 4.5% to 4.9%. Experts also changed their median forecast for 2022 MAS core inflation to 3.8% from 3.4%.
This forecasted increased inflation also resulted in a forecasted downgrade for the country’s annual Gross Domestic Product.
The 2022 GDP is now expected to increase by 3.5% instead of 3.8%. By next year, experts are forecasting GDP growth to settle at 2.8%.
According to economists and analysts, the 2023 full-year headline and MAS core inflation will come at 3.8% and 3.1%, respectively.
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