Published:
What dramatic jumps in car costs can do to Singapore inflation
2013 forecast pegged at 2-2.5%.
According to CIMB, after retreating to a 3-year low of 1.5% yoy in Apr, costlier housing, food and healthcare eclipsed lower.
COE premiums to nudge May’s CPI up to 1.6% yoy (consensus: 1.7%, CIMB: 1.0%). Core inflation similarly rebounded from a 3-year low of 1.4% yoy in Apr to 1.7% in May (1.6% in 1Q13), due mainly to costlier food.
"Unless there are dramatic jumps in car costs and the core CPI in the coming months, we maintain our 2013 inflation of 2-2.5% (5M13: 3.0%; 2012:4.6%)," CIMB said.
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