Singapore Inflation September 2019

Singapore

Singapore: Inflation stable in September

October 23, 2019

Consumer prices were unchanged month-on-month in September, contrasting the 0.5% monthly increase in the prior month. The result reflected cheaper transport and communication offsetting rising prices for food and clothing and footwear.

Inflation, meanwhile, was stable at 0.5% in September from the prior month, while annual average inflation inched down from 0.6% in August to 0.5%. The Monetary Authority of Singapore’s core inflation measure, which excludes accommodation and private road transport costs, edged lower to 0.7% in September from 0.8% in August and marked the lowest reading since March 2016.

In 2019, the MAS expects CPI inflation to average between 0.5% and 1.5%, and core inflation to average between 1.0% and 2.0%. FocusEconomics Consensus Forecast panelists, meanwhile, expect CPI inflation to average 1.2% in 2020, which is unchanged from the previous month’s forecast. In 2021, our panel expects average inflation of 1.4%.


Author:, Economist

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Singapore Inflation Chart


Singapore Inflation September 2019

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


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