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CPI Hits Seven-Year High

SGD

CPI rises above estimates at 2.4% Y/Y, consensus was for a 2.2% rise. Core CPI also rose above estimates at 0.8%, forecast was for a 0.8% rise. The M/M print came in at 0.8%, a seven year high. The rise was attributed to higher private transport and accommodation costs as well as an increase in core inflation. USD/SGD making new session highs, last up 22 pips at 1.3467, below yesterday's intraday high of 1.3476.

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