In May, consumer prices added 0.6% over the previous month, which was twice the 0.3% price hike recorded in April. Prices for all but one of the main categories either dropped or remained unchanged over the previous month. However, prices for housing, which rose 3.1% month-on-month, offset the subdued developments in other price categories. Housing costs increased as rebates for service and conservancy charges (S&CC) were being given in April but not in May. Owing to the relatively strong monthly rise, annual inflation remained unchanged at 4.5%, which overshot market expectations that had annual inflation dropping to 4.1%. The Monetary Authority of Singapore (MAS) tightened its policy stance on 14 April, when it raised the Singapore dollar trading band. Meanwhile, annual average inflation, which is the reference for monetary policy decisions, inched up to 4.1% in May. The MAS anticipates inflation to average between 3.0% and 4.0% this year.
Inflation remains surprisingly high in May
June 23, 2011
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Singapore Economic News
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.
September 23, 2016
In August, consumer prices increased 0.5% compared to the previous month, contrasting the 0.3% decrease recorded in July.