Singapore Inflation


Singapore: Decrease in annual consumer prices moderates in June

July 23, 2015

In June, consumer prices fell 0.1% over the previous month, contrasting the 0.5% increase tallied in May. According to Statistics Singapore, June’s decrease was driven by a fall of clothing and footwear as well as accommodation prices.

Consumer prices fell 0.3% annually in June, which followed May’s 0.4% drop. The reading was in line with market expectations. As a result of June’s decrease, annual average inflation inched down from May’s 0.2% to 0.1%, which marked an over-five-year low.

The Monetary Authority of Singapore’s (MAS) annual core inflation measure, which excludes the cost of accommodation and private road transport, inched up from 0.1% in May to 0.2% in June.

The MAS expects average inflation to be between minus 0.5% and plus 0.5% in 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 0.1% in 2015, which is unchanged from last month’s estimate. For 2016, the panel sees average inflation at 1.5%.

Author:, Economist

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Singapore Inflation Chart

Singapore Inflation June 2015

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

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