Singapore Inflation

Singapore

Singapore: Inflation declines to seven-month low in September

January 1, 1970

In September, consumer prices declined 0.1% over the previous month, which contrasted the 0.5% increase recorded in August. According to Statistics Singapore, September’s decrease was mainly driven by lower prices for clothing and footwear as well as for health care.

Annual inflation fell from 0.9% in August to 0.6% in September, which marked the lowest rate in seven months. The figure undershot the 0.9% rise that the market had expected. Despite the annual decrease, annual average inflation remained stable at August’s 1.6%.

The Monetary Authority of Singapore’s (MAS) annual core inflation measure, which excludes the cost of accommodation and private road transport, inched down from 2.1% in August to 1.9% in September.

The MAS expects average inflation to be between 1.0% and 1.5% in 2014, and between 0.5% and 1.5% in 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 1.6% in 2014, which is down 0.2 percentage points from last month’s estimate. For 2015, the panel sees average inflation at 2.0%, which is down 0.3 percentage points from last month’s estimate.


Author:, Economist

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Singapore Inflation Chart


Singapore Inflation September 2014

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


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