Singapore Inflation November 2018

Singapore

Singapore: Inflation ticks up in November, while core inflation falls

December 24, 2018

Consumer prices increased 0.2% over the previous month in November, contrasting the 0.3% decline posted in October. According to data released by Statistics Singapore, the uptick was primarily caused by higher prices for housing and utilities, food and clothing and footwear.

Inflation was 0.3% in November, easing from October’s 0.7%, while annual average inflation inched down to 0.4% in November from 0.5% in October.

Meanwhile, the Monetary Authority of Singapore’s (MAS) core inflation measure, which omits the costs of accommodation and private road transport, edged lower to 1.7% in November from 1.9% in October as a result of smaller increases in prices for services, and electricity and gas.

The MAS expects CPI inflation to average between 1.0% and 2.0% in 2019, and core inflation to average between 1.5% and 2.5%. FocusEconomics Consensus Forecast panelists expect inflation to average 1.3% in 2019, which is unchanged from last month’s forecast. In 2020, panelists also expect average inflation of 1.3%.


Author:, Economist

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Singapore Inflation Chart


Singapore Inflation November 2018 1

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


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