Singapore Inflation September 2020

Singapore

Singapore: Consumer prices broadly unchanged in September

October 23, 2020

Consumer prices rose 0.33% over the previous month in September, slowing from the 0.63% increase recorded in August. The lower reading was primarily driven by milder housing price pressures in the month.

Consumer prices were broadly unchanged on an annual basis in September, following August’s 0.4% decrease. September's result represented the end of a five-month run of falling year-on-year consumer prices. The annual average variation of consumer prices was also flat in September, matching August's reading. Lastly, core consumer prices fell 0.1% on an annual basis in September, which was a smaller drop than August's 0.3% decrease.

FocusEconomics Consensus Forecast panelists expect consumer prices to fall 1.1% in 2021, which is up 0.1 percentage points from the previous month’s forecast. In 2022, our panel expects inflation of 1.4%.


Author:, Economist

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Singapore Inflation September 20 20 1

Note: Annual and monthly variation of consumer price index in %.
Source: Statistics Singapore (Singstat).


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