Singapore Inflation November 2020


Singapore: Consumer prices continue to fall in November

December 23, 2020

Consumer prices rose 0.40% over the previous month in November, swinging from the 0.43% drop seen in October. November's result was mainly driven by higher and housing and utilities costs.

Consumer prices dropped 0.1% year-on-year in November, a smaller decline compared to October’s 0.2% fall. Meanwhile, the trend was unchanged with the annual average variation of consumer prices coming in at October's minus 0.1% in November. Core consumer prices fell 0.1% on an annual basis in November, which was a smaller drop compared to October's 0.2% decrease.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.8% in 2021, which is down 0.2 percentage points from the previous month’s forecast. In 2022, our panel expects average inflation of 1.2%.

Author:, Economist

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Singapore Inflation Chart

Singapore Inflation November 20 20 1

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

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