Thursday, May 24, 2018

FW: RHB | Singapore | April's Inflation Still Soft





Economic Research

23 May 2018



Economic Update




April’s Inflation Still Soft


u Singapore’s CPI saw a slower rise of 0.1% YoY in April, after a 0.2% growth in the preceding month. This was mainly due to a further drop in the prices of housing and transport. Core CPI rose by 1.3% YoY, slowing from a growth of 1.5% YoY in March.

u Going forward, the CPI is envisaged to trend higher, as imported inflation is expected to increase mildly following the rise in commodity prices. However, domestic inflation will remain moderate going forward, as retail rents have stayed relatively subdued.

u MAS’ shift in policy rate to a slightly hawkish stance in April would help to reign in imported inflationary pressures to some extent.



Vincent Loo Yeong Hong   | +603 9280 2172



To access our recent reports please click on the links below:

17 May: NODX Rebounds In April On Pharma Exports

30 April: M3 Eases In March, Loans Stay On Upward Trend

26 April: IPI: Stellar Semicon Growth But Weakness Persists

23 April: March Inflation Eases To 0.2% YoY

17 April: NODX Falls 2.7%, EP NODX Disappoints

13 April: 1Q GDP At 4.3% On Manufacturing Boost, MAS Hawkish


Economics Team

Arup Raha

Group Chief Economist

+65 6232 3896

Peck Boon Soon

Chief ASEAN Economist

+603 9280 2163

Vincent Loo Yeong Hong

Malaysia, Singapore

+603 9280 2172

Ahmad Nazmi Idrus


+603 9280 2179

Aris Nazman Maslan

Thailand, Philippines , Vietnam

+603 9280 2184



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