Singapore Inflation January 2021

Singapore

Singapore: Inflation rises in January

February 23, 2021

Consumer prices fell 0.03% in January over the previous month, contrasting December's 0.36% rise. January's result marked the first fall in prices since October 2020 and was primarily driven by lower prices for clothing and footwear, and housing and utilities.

Inflation came in at 0.2% in January, contrasting December’s flat reading. Meanwhile, the trend was unchanged with the annual average variation of consumer prices coming in at December's minus 0.2% in January. Lastly, core consumer prices fell 0.2% on an annual basis in January, which was a more moderate fall than December's 0.3% decrease.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.9% in 2021, which is unchanged from the previous month’s forecast. In 2022, our panel expects average inflation of 1.2%.


Author:, Economist

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Singapore Inflation Chart


Singapore Inflation January 2021

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


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