Inflation in Singapore
Singapore - Inflation
Inflation eases in August
Consumer prices rose 0.55% in August over the previous month, swinging from the 0.19% drop seen in July. August’s reading was mainly driven by rebounding price pressures for housing, while food prices also rose at a faster rate than the month prior.
Inflation fell to 2.4% in August, easing slightly from July’s 2.5%. Annual average inflation ticked up to 1.1% in August (July: 0.9%). Lastly, core inflation edged down to 2.6% in August, from the previous month's 2.8%.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.7% in 2021, which is up 0.1 percentage points from the previous month’s forecast. In 2022, our panel expects average inflation of 1.4%.
Singapore - Inflation Data
|Inflation Rate (CPI, annual variation in %)||-0.5||-0.5||0.6||0.4||0.6|
5 years of economic forecasts for more than 30 economic indicators.
Singapore Inflation Chart
Source: Singapore Department of Statistics and FocusEconomics calculations.
|Bond Yield||1.74||1.39 %||Dec 31|
|Exchange Rate||1.34||-0.01 %||Jan 01|
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October 14, 2021
The economy expanded 6.5% year-on-year in the third quarter according to an advanced estimate, slowing notably from Q2’s 15.2% growth which had marked the fastest expansion since Q2 2010.
October 14, 2021
At its 14 October meeting, the Monetary Authority of Singapore (MAS) raised the slope of the Singapore dollar nominal effective exchange rate (S$NEER) policy band from 0.0% previously, thus allowing the dollar to appreciate “slightly” on an annual basis—widely believed to be 0.5% per annum—and effectively tightening its monetary stance.
October 5, 2021
The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for the manufacturing and electronics sectors had divergent months in September, but both remained in expansionary terrain as they continued to shrug off the pandemic’s negative impact.
September 23, 2021
Consumer prices rose 0.55% in August over the previous month, swinging from the 0.19% drop seen in July.
September 17, 2021
Non-oil domestic exports (NODX) grew 2.7% year-on-year in August, slowing significantly from July’s 12.7% increase.