Singapore Inflation

Singapore

Singapore: Inflation rises in April

May 15, 2014

In April, consumer prices fell 0.2% over the previous month, which contrasted the 0.3% increase recorded in March and marked the lowest level so far this year. According to Statistics Singapore, April’s decrease was mainly the result of lower prices for housing.

Annual inflation rose from 1.2% in March to 2.5% in April, which marked the highest level in five months. The figure slightly undershot the 2.6% the market had expected. Annual average inflation inched up from 1.6% in March to 1.7% in April.

The Monetary Authority of Singapore’s (MAS) annual core inflation measure, which excludes the cost of accommodation and private road transport, rose from 2.0% in March to 2.3% in April, which marked the highest level since September 2012.

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 April 2014

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


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