Published:
Inflation shocker: Prices in Singapore may have surged 5.2% in June
Standard Chartered says transport costs may resume their double-digit rise despite lower fuel prices.
Here’s more from Standard Chartered:
| We forecast June CPI inflation to rise 5.2% y/y, or -0.2% m/m. The low base in June 2010, when inflation fell to -1% m/m, results in a higher headline print on a y/y basis versus May’s 4.5%. Transport costs may also have resumed their double-digit y/y rise because of a low base, despite lower fuel prices in June. The m/m housing price gain should have normalised after May’s 3.1%. Although we forecast a slight contraction, inflation remains resilient owing to a strong domestic economy, and we expect the central bank to maintain its Singapore dollar NEER appreciation stance come October. |
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