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.
Author: Stephen Vogado, Economist