Singapore Inflation July 2020

Singapore

Singapore: Consumer prices record smallest fall in four months in July

August 24, 2020

Consumer prices fell 0.32% from the previous month in July, contrasting the 0.02% increase seen in June. July's result marked the sharpest fall in prices since April.

Consumer prices declined 0.4% on an annual basis in July, a smaller drop than June’s 0.5% fall. July's result was the smallest dip in consumer prices since March. Annual average inflation ticked down to 0.1% in July (June: 0.2%), while core consumer prices fell 0.4% on an annual basis in July, which was a sharper decrease than June's 0.2% 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 July 20 20

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


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