Published:
Inflation to ease further in 2H12
The 4% inflation in July is expected to ease further due to lower accommodation and housing costs.
Here's more from Nomura:
Headline inflation at 4.0% y-y; expected to ease in the second half Headline CPI eased to 4.0% y-y in July (June: 5.0%), largely on account of lower accommodation and housing costs.
Core inflation, which is an important determinant of MAS monetary policy, also declined to 2.4% y-y (from 2.7%). Nomura Economics Research continues to see a 55% likelihood that MAS will keep its policy stance unchanged in October.
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