Singapore Inflation August 2020

Singapore

Singapore: Consumer prices fall again in August

September 23, 2020

Consumer prices increased 0.63% from the previous month in August, swinging from July's 0.32% fall. August's uptick marked the sharpest increase in prices since August 2019.

Consumer prices held steady at July's 0.4% year-on-year decline in August, which represented the smallest drop in consumer prices since March. The annual average variation of consumer prices was flat in August (July: +0.1%). Core consumer prices fell 0.3% on an annual basis in August, which was a smaller drop than July's 0.4% decrease.

FocusEconomics Consensus Forecast panelists expect consumer prices to fall 0.5% in 2020, which is unchanged from the previous month’s forecast. In 2021, our panel expects inflation of 1.0%.


Author:, Economist

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Singapore Inflation August 20 20

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


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