Singapore Inflation December 2017


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%.

Author: Massimo Bassetti, Senior Economist

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Singapore Inflation Chart

Singapore Inflation December 2017

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

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