Singapore Inflation


Singapore: Inflation eases in June

July 23, 2014

In June, consumer prices fell 0.7% over the previous month, which contrasted the 0.5% increase recorded in May and marked the fastest drop since April 2013. According to Statistics Singapore, June’s decrease was mainly driven by lower prices for housing and transport.

Annual inflation fell from 2.7% in May to 1.8% in June. The figure came in below the 2.4% the market had expected. Annual average inflation was stable at May’s 1.8% in June.

The Monetary Authority of Singapore’s (MAS) annual core inflation measure, which excludes the cost of accommodation and private road transport, inched down from 2.2% in May to 2.1% in June.

The MAS expects average inflation to be between 2.0% and 3.0% in 2014. FocusEconomics Consensus Forecast panelists expect inflation to average 2.5% in 2014, which is down 0.1 percentage points from last month’s estimate. For 2015, the panel sees average inflation at 2.7%.

Author:, Senior Economist

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Singapore Inflation Chart

Singapore Inflation June 2014

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

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