UPDATE 1-Singapore August core inflation at 2.7% y/y, above forecast

(Adds economist quote in paragraph 6)

SINGAPORE, Sept 23 (Reuters) - Singapore's key consumer price gauge rose 2.7% in August from a year earlier, higher than economists' forecasts, official data showed on Monday, the final inflation reading before the next review of monetary policy settings.

The core inflation rate, which excludes private road transport and accommodation costs, was above both a 2.6% forecast in a Reuters poll of economists and a rate of 2.5% in July.

The headline inflation measure in August was up 2.2% from the same month last year, close to a 2.15% forecast in the poll.

Inflation in the Asian financial hub has cooled from a peak of 5.5% in early 2023, and dropped below 3% in June. July's 2.5% was the smallest annual increase in the core price index since February 2022.

The Monetary Authority of Singapore (MAS) has not changed policy since a tightening in October 2022. Its next policy review is next month at a date yet to be announced.

OCBC economist Selena Ling expects the central bank to maintain its monetary policy stance.

"Core inflation rebounded a bit but the MAS statement suggests no alarm as it still expects core inflation to generally subside over time," she said.

The trade ministry adjusted its GDP growth forecast range for 2024 last month to 2.0% to 3.0%, from 1.0% to 3.0% previously, after the economy posted stronger-than-expected second quarter growth.

Earlier this month, economists polled by the central bank upgraded their expectations for Singapore's growth to 2.6% this year, up from a forecast of 2.4% in surveys done in March and June. (Reporting by Xinghui Kok; Editing by John Mair, Martin Petty)