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Singapore inflation stable in March

Staff Writer |
In March, consumer prices in Singapore stayed flat over the previous month, matching February’s reading.

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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%.

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