In June, consumer prices were flat over the previous month, which came in below the 0.2% increase recorded in May. The reading was the result of a drop in prices for clothing and footwear as well as for transport, in particular private transport amid lower fuel prices, along with a modest rise in food costs. Despite the subdued monthly reading, annual inflation rose from 5.0% in May to 5.3% in June, exceeding market expectations that had inflation at 5.2%. Annual average inflation remained stable at 5.3%. Meanwhile, the Monetary Authority of Singapore's (MAS) annual core inflation measure, which excludes the costs of accommodation and private road transport, remained unchanged for second month in a row at 2.7%.
Inflation picks up again in June
July 23, 2012
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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.