Singapore Inflation October 2017


Singapore: Inflation steady in October

November 23, 2017

In October, consumer prices dropped 0.3% from the previous month, following September’s flat reading. According to Statistics Singapore, the result was particularly driven by higher prices for food, healthcare, education and transport.

Inflation in October came in at 0.4% for the third consecutive month, slightly below market expectations. Meanwhile, annual average inflation also matched the previous month’s 0.5%, 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 1.5% in October, also mirroring September’s reading.

FocusEconomics Consensus Forecast panelists expect inflation average 1.2% in 2018, which is unchanged from last month’s estimate. For 2019, the panel sees average inflation at 1.4%.

Author: Massimo Bassetti, Economist

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Singapore Inflation Chart

Singapore Inflation October 2017

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

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