Singapore inflation stable in March
According to Statistics Singapore, the reading mainly reflected higher prices for transport and clothing and footwear offsetting lower prices for communication and housing and utilities.
Inflation came in at 0.7% in March, mirroring February’s result. The reading matched market expectations. The annual average variation in consumer prices inched up from February’s minus 0.3% to minus 0.2%.
The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes the cost of accommodation and private road transport, recorded a 1.2% increase in March, matching February’s reading.
The MAS expects average inflation to be between 0.5% and 1.5% in 2017. FocusEconomics Consensus Forecast panelists expect inflation of 0.8% in 2017, which is unchanged from last month’s estimate.
For 2018, the panel sees average inflation at 1.2%. ■