In March, consumer prices increased 0.1% over the previous month. The reading came in well below the 0.8% average price rise registered in the January-February period but matched the 0.1% increase tallied in March 2010. The modest monthly reading reflected higher prices for clothing and footwear (+2.5% month-on-month) as well as housing (+0.6% mom), partly offset by lower transport costs (-0.6% mom). Annual average inflation, which is the reference for monetary policy decisions, continues to rise, stepping up from 3.6% in February to 3.9% in March. Annual inflation remained unchanged at 5.0%, hovering above the government's target for a fourth consecutive month, but nonetheless surprising market expectations to the downside, as analysts had expected a 5.1% inflation rate.
Inflation remains elevated in the first quarter
April 25, 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
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 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 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.