Singapore Inflation December 2020

Singapore

Singapore: Inflation flatlines in December

January 25, 2021

Consumer prices increased 0.36% over the previous month in December, moderating from November's 0.40% rise. December’s increase was mainly driven by rising clothing and footwear, and transport prices.

Consumer prices remained unchanged in December, up marginally from November’s 0.1% drop. Meanwhile, the trend pointed down slightly, with the annual average variation of consumer prices coming in at minus 0.2% in December (November: -0.1%). Lastly, core consumer prices fell 0.3% on an annual basis in December, which was a steeper fall than November's 0.1% decrease.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.9% in 2021, which is up 0.1 percentage points from the previous month’s forecast. In 2022, our panel expects average inflation of 1.3%.


Author:, Economist

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Singapore Inflation Chart


Singapore Inflation December 20 20

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


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