Singapore: Inflation moderates but remains high
October 24, 2011
In September, consumer prices dropped 0.2% over the previous month. The print was the result of lower prices for transportation as well as for clothing and footwear, which more than offset higher prices for food and accommodation. Owing to the subdued monthly print, annual inflation dropped from 5.7% in August to 5.5% in September, which was slightly below market expectations that had inflation inching down to 5.6%. However, annual average inflation maintained its upward trend, rising from 4.7% in August to 4.9 % in September. The Monetary Authority of Singapore projects inflation to average between 4.0% and 5.0% this year.