Singapore Inflation September 2017

Singapore

Singapore: Inflation steady in September

October 23, 2017

In September, consumer prices were flat from the previous month, following August’s 0.3% increase. According to Statistics Singapore, the result was particularly driven by higher prices for clothing and footwear offset by lower prices for housing and utilities and transport.

Inflation in September mirrored August’s 0.4% rise, matching market expectations. Meanwhile, annual average inflation increased from 0.4% in August to 0.5% in September, the highest reading in nearly 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 September, slightly up from August’s 1.4% 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 September 2017

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


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