Singapore Inflation December 2015


Singapore: Decrease in annual consumer prices moderates in December

January 25, 2016

In December, consumer prices recorded zero growth over the previous month, which follows the 0.2% increase tallied in November. According to Statistics Singapore, December’s reading mainly reflected a rise in prices of recreation and culture, which offset a fall in prices of clothing and footwear.

Consumer prices fell 0.6% annually in December, which was above November’s 0.8% drop. The reading slightly overshot market expectations of a 0.7% decrease. Annual average variation in consumer prices remained stable at November’s minus 0.5% in December.

The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, inched up from 0.2% in November to 0.3% in December.

The MAS expects average inflation to be between minus 0.5% and plus 0.5% in 2016. FocusEconomics Consensus Forecast panelists expect inflation to average 0.2% in 2016, which is down 0.1 percentage points from last month’s estimate. For 2017, the panel sees average inflation at 1.0%.

Author:, Economist

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Singapore Inflation Chart

Singapore Inflation December 2015

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

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