Singapore Inflation November 2015


Singapore: Decrease in annual consumer prices remains stable in November

January 4, 2016

In November, consumer prices rose 0.2% over the previous month, which contrasted the 0.4% fall tallied in October and marked a six-month high. According to Statistics Singapore, November’s reading mainly reflected a rise in prices of housing and utilities, which more than offset a fall in prices of healthcare.

Consumer prices fell 0.8% annually in November, which mirrored October’s result. The reading matched market expectations. As a consequence of November’s drop, annual average variation in consumer prices inched down from October’s 0.4% fall to a 0.5% decrease, which marked the lowest value since November 2002.

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

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 November 2015

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

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