In December, consumer prices increased 0.2% over the previous month. The reading came in below the 0.3% rise registered in November but represented a strong acceleration compared to the 0.5% drop tallied in December 2009. As a result, annual inflation jumped to 4.6% in December (November: 3.8% year-on-year), which was a notch above the 4.5% expected by market analysts and marked the highest rate of inflation since December 2008. The monthly rise reflected higher prices for transport (+2.6% month-on-month), although these were partially offset by lower housing costs (-1.1% mom). Moreover, annual average inflation ended the year at 2.8%, up from a mild 0.6% for the full year 2009. The Monetary Authority of Singapore (MAS) conducts its monetary policy through the management of the exchange rate, instead of using interest rates. Monetary authorities last tightened their policy stance on 14 October, when they announced they would increase the slope of appreciation of the Singapore dollar, without changing the level at which the band is centered.
Government raises 2011 inflation forecast
January 23, 2011
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Singapore Economic News
October 24, 2016
In September, consumer prices stayed flat compared to the previous month, following the 0.5% increase recorded in August.
October 17, 2016
In September, non-oil domestic exports (NODX) dropped 4.8% from the same month last year, deteriorating from August’s flat result.
October 14, 2016
According to advanced estimates released by the Ministry of Trade and Industry on 14 October, GDP declined a sharp 4.1% in Q3 from the previous quarter at a seasonally adjusted annualized rate (SAAR), down from Q2’s revised 0.2% rise (previously reported: +0.3% quarter-on-quarter).
October 14, 2016
At its second scheduled semi-annual meeting of 2016, which took place on 14 October, the Monetary Authority of Singapore (MAS) decided to leave the rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band unchanged at zero percent.
October 3, 2016
The manufacturing PMI produced by the Singapore Institute of Purchasing & Materials Management (SIPMM) picked up from 49.8 in August to a 15-month high of 50.1 in September.