In February, consumer prices fell 0.1% over the previous month, which contrasted the 0.1% increase recorded in January. According to Statistics Singapore, February's increase came on the back of higher prices for food and for housing, which offset lower prices for transport and communication. Annual inflation fell from 1.4% in January to 0.4% in February, reaching the lowest level since January 2010. The figure undershot the 0.8% the market had expected. Annual average inflation decreased from 2.2% in January to 1.8% in February. The Monetary Authority of Singapore's (MAS) annual core inflation measure, which excludes the cost of accommodation and private road transport, fell from 2.2% in January to 1.6% in February. The MAS expects average inflation to be between 2.0% and 3.0% in 2014. FocusEconomics Consensus Forecast panelists expect inflation to average 2.8% in 2014, which is down 0.1 percentage points from last month's estimate. For 2015, the panel sees average inflation at 3.0%.
Inflation reaches lowest level in over four years
March 24, 2014
Looking for forecasts related to Inflation in Singapore? Download a sample report now.
Singapore Inflation Chart
Note: Annual and monthly variation of consumer price index in %.
Source: Statistics Singapore (Singstat).
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.