Singapore Inflation January 2016

Singapore

Singapore: Decrease in annual consumer prices stable in January

February 24, 2016

In January, consumer prices fell 0.2% over the previous month, which followed the flat reading tallied in December and marked a three-month low. According to Statistics Singapore, January’s reading mainly reflected a fall in prices of transport as well as recreation and culture.

Consumer prices fell 0.6% annually in January, which reflected December’s result. The reading undershot market expectations of a softer 0.4% decrease. Annual average variation in consumer prices remained stable at December’s minus 0.5% in January.

The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, inched up from 0.3% in December to 0.4% in January.

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 January 2016

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


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