In February, consumer prices dropped 0.3% over the previous month, which contrasted the 0.9% price increase seen in January. The monthly price decline was mostly the result of lower food and transport prices, which offset higher costs for housing. Owing to the subdued monthly price increase, annual inflation dropped from 4.8% in January to 4.6%, which marks the lowest level since May 2011 and defied market expectation that had annual inflation rising to 5.0%. Annual average inflation remained unchanged from the previous month at 5.2%. The Monetary Authority of Singapore's (MAS) annual core inflation measure, which excludes the costs of accommodation and private road transport, moderated from 3.5% in January to 3.0%. The MAS expects that inflation will average between 2.5% and 3.5% this year.
Inflation continues to moderate in February
March 23, 2012
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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.