Singapore Inflation May 2018

Singapore

Singapore: Inflation picks up in May

June 25, 2018

Consumer prices increased 0.6% over the previous month in May, contrasting April’s 0.5% drop. According to data released by Statistics Singapore, the rise in prices was primarily driven by higher prices for food, recreation and culture and education.

In May, inflation rose to 0.4% from 0.1% in April, in line with market expectations. Annual average inflation dipped from 0.5% to 0.4%.

Finally, the Monetary Authority of Singapore’s (MAS) core inflation measure, which omits the costs of accommodation and private road transport, rose from 1.3% in April to 1.5% in May. The uptick came on faster inflation in virtually all sub-sectors of the index.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.8% in 2018 and 1.3% in 2019.


Author:, Economist

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Singapore Inflation May 2018 0

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


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