Singapore: Inflation moderates in April
May 23, 2018
Consumer prices decreased 0.5% over the previous month in April, down from March’s 0.2% drop. According to data released by Statistics Singapore, the fall in prices was primarily driven by lower prices for housing and utilities.
In April, inflation moderated to 0.1% from the prior month’s 0.2%, coming in below market expectations. Annual average inflation was stable at the previous month’s reading of 0.5%.
Finally, the Monetary Authority of Singapore’s (MAS) core inflation measure, which omits the costs of accommodation and private road transport, also eased, from 1.5% in March to 1.3% in April. The dip came on lower retail inflation and a milder rise in electricity tariffs.
Singapore Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 0.9% in 2018, which is down 0.1 percentage points from last month’s estimate. For 2019, the panel sees average inflation of 1.3%.
Author: Jan Lammersen, Economist