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Singapore CPI Inflation 3.1% y-o-y (consensus 3.0%) in May-24

- Singapore's CPI inflation rate in May 2024 rose to 3.1% y-o-y, surpassing consensus estimates and representing the highest increase since February 2024, yet remains below the one-year average.
- The PPI experienced a deflationary dip of -0.11% y-o-y in April 2024, highlighting sector-specific pricing disparities, which may affect future monetary policy considerations.

Singapore CPI Inflation 2.7% y-o-y (consensus 2.6%) in Apr-24

- Singapore's CPI inflation rate in April 2024 remained at 2.7% year-on-year, contrary to consensus expectations of a decline to 2.6%.
- However, this inflation rate remains below the one-year average and the core rate aligned with forecasts for no change from 3.1%.

Singapore CPI Inflation 2.7% y-o-y (consensus 3.0%) in Mar-24

- Singapore's CPI inflation in March 2024 dropped to 2.7% y-o-y, lower than the market consensus of 3.0%, indicating a surprisingly steep moderation of price pressures.
- The inflation rate stands 1.34 percentage points below the one-year average, highlighting a persistent disinflationary trend in Singapore.

Monetary Authority of Singapore: Apr-24

• The Monetary Authority of Singapore (MAS) maintains the rate of appreciation of the S$NEER policy band to manage imported inflation and domestic economic pressures amid a nuanced global and local economic environment.
• Future policy decisions will be influenced by global economic conditions, domestic economic dynamics, and inflation trends, focusing on the anticipated easing of inflation by the end of 2024.
• MAS emphasizes its commitment to closely monitoring global and domestic developments, preparing to adjust policies as needed to ensure medium-term economic stability.