Singapore Inflation


Singapore: Inflation reaches lowest rate in four months

August 25, 2014

In July, consumer prices fell 0.3% over the previous month, which followed the 0.7% decrease recorded in June. According to Statistics Singapore, July’s decrease was mainly driven by lower prices for housing and transport.

Annual inflation fell from 1.8% in June to 1.2% in July, which was the lowest rate in four months. The figure came in well below the 1.9% the market had expected. Annual average inflation inched down from 1.8% in June to 1.7% in July.

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

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 July 2014

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

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