Singapore: Inflation slows in December
January 23, 2018
In December, consumer prices declined 0.1% from the previous month, contrasting November’s 0.6% rise. According to Statistics Singapore, the result was particularly driven by lower prices for clothing and footwear and communication.
Inflation in December came in at 0.4%, down from the previous month’s 0.6% and slightly below market expectations. Meanwhile, annual average inflation remained stable at November’s 0.6%, the highest reading in over two and a half years.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, came in at 1.3% in December, down from November’s 1.5% reading.
Singapore Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 1.2% in 2018, which is unchanged from last month’s estimate. For 2019, the panel sees average inflation of 1.4%.