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2026-05-25 18:03:37
[April Core CPI Misses Expectations, UOB Strengthens Bet on Monetary Authority of Singapore (MAS) Tightening] ⑴ Singapore's April core inflation fell short of expectations, but UOB's economic team believes this data actually strengthens the case for MAS tightening policy, as seasonally adjusted core CPI on a three-month basis accelerated, indicating accelerating imported inflation. ⑵ Early signs suggest widening price pressures, evidenced by a general increase in inflation. UOB maintains its 2026 core inflation forecast at 1.9% and overall inflation forecast at 2.2%, with both risks skewed to the upside. ⑶ UOB analyst Jester Koh stated that he still expects the MAS to further tighten monetary policy in its October 2026 statement, with room for preemptive action should a second round of effects intensify or inflation expectations accelerate.
