FW: RHB | Singapore | CPI Steady In October; Set To Rise In Last Two Months

 

 

Economic Research			24 November 2017
Singapore
Economic Update
CPI Steady In October; Set To Rise In Last Two Months   Singapore’s CPI rose 0.4% YoY in October, unchanged for the third consecutive month. Price inflation of food and clothing accelerated. However, the gains were offset by a steeper decline in housing & utilities cost. Core CPI climbed 1.5% YoY, unchanged from September. Going forward, CPI is envisaged to move higher underpinned by a pick-up in private consumption and higher crude oil prices. Nevertheless, any gain would be capped by slack labour conditions as well as the dissipation of previous government measures. We maintain our inflation forecast of 0.8% for 2017, and expect the CPI to rise 1.6% next year.   Economist:  Ng Kee Chou | +603 92802179
To access our recent reports please click on the links below: 24 November 2017: Private Spending Rebounds As GDP Hits Four Year High 20 November 2017: October NODX Surged But Electronics Slowing Down 01 November 2017: Loan Growth And M3 Diverge 27  October 2017: IPI Remains On An Easing Trend  16 October 2017: MAS Stoic Despite Sharp 3Q GDP Rise 02 October 2017: Loan Growth Picked Up Despite Softening M3
Economics Team
Peck Boon Soon	Chief ASEAN Economist	bspeck@rhbgroup.com		+603 9280 2163
Vincent Loo Yeong Hong	Malaysia, Vietnam	vincent.loo@rhgroup.com		+603 9280 2172
Ng Kee Chou	Singapore, Thailand	ng.kee.chou@rhbgroup.com		+603 9280 2179
Rizki Fajar	Indonesia, Philippines	rizki.fajar@rhbgroup.com		+6221 2970 7065
Aris Nazman Maslan	Malaysia, Vietnam	mohd.aris.nazman@rhbgroup.com		+603 9280 2184

 

 

 

This message is intended only for the use of the person(s) to whom it is addressed and may contain information that is privileged or otherwise protected from disclosure. If you are not the intended recipient you are hereby notified that any use, review, disclosure or copying of this message and the information it contains is prohibited. If you receive the message in error, please notify the sender by reply e-mail and discard all its contents.   Thank You.