singapore cpi april 2020

The CPI 1-month inflation rate was negative 0.2% in April 2020, compared with 0.6% in April 2019. Consumer-facing sectors have been severely affected by social distancing measures and heightened uncertainty. FY2020 refers to the Financial Year 1st April 2020 to 31st March 2021. With the deterioration in macroeconomic conditions and expectations of a weaker outlook, the S$NEER has depreciated to a level slightly below the mid-point of the policy band. Mar 2020 / Mar 2019. 2. Looking ahead, global GDP growth is expected to stall or even contract in H1 2020, given the significant interruption to economic activity in most of Singapore’s major trading partners. Consequently, disinflationary pressures are expected to broaden, even as the prices of some imported items are likely to increase as a result of the disruptions in production and transport. MAS will continue to be vigilant over developments in the economy and financial markets, and stands ready to curb excessive volatility in the S$NEER. The inflation rate is based upon the consumer price index (CPI). The ongoing wave of COVID-19 outbreaks will continue to dampen global growth beyond the first half of the year, even as China is showing signs of recovery to normalcy. 15. CPI 2020: Asia Pacific News • 28 January 2021 The Asia Pacific region struggles to combat corruption and tackle the profound health and economic impact of COVID-19. However, supply chain disruptions arising from worldwide measures to contain COVID-19 could put some temporary upward pressure on imported food prices. Read the Monetary Policy Statement for October 2020. Core inflation fell to -0.3 per cent year on … Meanwhile, non-labour costs such as retail rents should stay subdued. Based on the Advance Estimates released by the Ministry of Trade and Industry on 26 March, the Singapore economy contracted by 2.2% year-on-year in Q1 2020, following the 1.0% expansion in the preceding quarter. The COVID-19 pandemic has led to a severe contraction in economic activity both in Singapore and globally, due to the combination of supply chain disruptions, travel restrictions imposed in many countries and a sudden decline in demand. The outbreak of COVID-19 domestically and abroad has weighed on a broad spectrum of economic activities. April 2020 FOR SPONSORSHIP OPPORTUNITIES, CONTACT: [email protected] 10 TH MIDDLE EAST COLD CHAIN FOOD SAFETY CONFERENCE 28 September 2020 | … The Consumer Price Index, which stood at 105.2 in June 2020, registered a net increase of 0.8 point (or 0.8%) to reach 106.0 in September 2020 (Table 1a). There was no change to the width of the policy band and the level at which it was centred. The measured adjustment to the policy stance was assessed to be appropriate given muted inflationary pressures. Chart 1 10. The three-month S$ SIBOR fell from 1.8% in October 2019 to around 1.0% as at late March, following the decline in the US$ LIBOR during this period. On a quarter-on-quarter seasonally adjusted basis, GDP declined sharply by 10.6%, after expanding by 0.6% in Q4 2019. 14. MAS is thus lowering the 2020 forecast range for both MAS Core Inflation and CPI-All Items inflation to −1 to 0%. CPI dropped for the fourth consecutive month in June 2020 after March 2020's 0.2% decline. Consumer price index (CPI) of food servicing services in Singapore 2011-2020 CPI of clothing and footwear in Singapore 2011-2020 CPI of household durables in Singapore 2011-2020 Consumer Price Index CPI in Singapore averaged 62.18 points from 1961 until 2021, reaching an all time high of 100.50 points in December of 2020 and a record low of 24.05 points in May of 1961. Singapore Department of Statistics 26 May 2020 For enquiries, please contact Sarah Ng . The current level of the S$NEER is slightly below the mid-point of the policy band. MAS Core Inflation is likely to remain below its historical average in the near and medium term. Singapore Department of Statistics 23 April 2020 For enquiries, please contact Sarah Ng . Mar 2020 / Feb 2020. It is commonly used as a measure of consumer price inflation. CPI inflation - current international consumer price index inflation This page shows a summary of the current inflation figures for a large number of countries and regions. The Singapore economy will enter a recession this year, with GDP growth projected at −4 to −1%. Over the same period, CPI-All Items inflation rose slightly to 0.6%, reflecting a larger increase in private road transport costs and a turnaround in imputed rentals on owner-occupied accommodation. Car prices are likely to be largely unchanged as households hold back on expenditure that require large financial outlays. The CPI inflation rates in the table are presented both on a monthly basis (compared to the month before) as well as on a yearly basis (compared to the same month the year before). Construction activity also declined in Q1, in part reflecting disruptions to the inflow of workers and raw materials. Get notified whenever news and updates are posted on this website. The government’s decision to freeze all its fees and charges for a year will further restrain inflation. However, supply chain disruptions arising from worldwide measures to contain COVID-19 could put some temporary upward pressure on imported food prices. On the domestic front, a degree of labour market slack could emerge as firms pull back on their hiring plans, even as the scale of retrenchments is mitigated by the Jobs Support Scheme. The CPI is one of the most oft used techniques for measuring inflation all over the world, not just in the United States. The CPI is the Consumer Price Index and is a metric used to measure inflation. There was no change to the width of the policy band and the level at which it was centred. Over the same period, CPI-All Items inflation rose slightly to 0.6%, reflecting a larger increase in private road transport costs and a turnaround in imputed rentals on owner-occupied accommodation. Overall, major uncertainty remains. This was largely due to steeper declines in the costs of services and retail & other goods. The emergence of slack in domestic factor markets would lead to some disinflationary pressures in the economy. From April 2018 to April 2019, the Consumer Price Index for All Urban Consumers (CPI-U) rose 2.0 percent, the largest over-the-year increase since the 12 months ending November 2018. The Singapore economy will enter a recession this year, with GDP growth projected at −4 to −1%. It is commonly used as a measure of consumer price inflation. 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The Government’s financial year is from 1st April of the calendar year to 31st March of the following calendar year. Consumer Price Index (CPI), Additional Indicators, 2019 as Base Year, Monthly Ministry of Trade and Industry - Department of Statistics / 05 Mar 2021 Based on Monetary Authority of Singapore … Growth in the trade-related industries will be weighed down by the decline in external demand and supply chain disruptions, while modern services such as finance & insurance and information & communications will be affected by the general slowdown in business activity and investment. The inflation rate is based upon the consumer price index (CPI). External sources of inflation are likely to weaken in the near term amid the global downturn. Within the non-core components of the CPI, rentals are expected to be broadly flat as demand for accommodation eases in line with the reduced inflow of foreign workers. GDP growth will eventually recover following the abrupt downshift in the level of activity, but there is significant uncertainty over the depth and duration of this recession. In its October 2019 Monetary Policy Statement, MAS reduced slightly the rate of appreciation of the S$NEER policy band. On the domestic front, a degree of labour market slack could emerge as firms pull back on their hiring plans, even as the scale of retrenchments is mitigated by the Jobs Support Scheme. T (+65) 6332 5047 . 17. For more details, please refer to the Technical Note in the Department of Statistics’ release titled “Singapore Consumer Price Index for April 2020”. For the second quarter ended June 30 (2Q20), the CPI decreased 2.6% to 118.2 compared to 121.3 for 2Q20. External sources of inflation are likely to weaken in the near term amid the global downturn. Based on the Advance Estimates released by the Ministry of Trade and Industry on 26 March, the Singapore economy contracted by 2.2% year-on-year in Q1 2020, following the 1.0% expansion in the preceding quarter. There will be no change to the width of the policy band. Since then, the S$NEER has depreciated in line with declining inflation and sharply weakening economic growth. Our mission is to promote sustained non-inflationary economic growth, and a sound and progressive financial centre. Consumer Price Index (CPI) By Household Income Group, Middle 60%, 2019 As Base Year, Half-Yearly Ministry of Trade and Industry - Department of Statistics / 06 Mar 2021 The CPI is designed to measure the average price changes in a fixed basket of consumption goods and services commonly purchased by the resident households over time. The fall was broad-based with lower price pressures recorded for housing and utilities, and transportation, while food prices rose at a softer rate. Monetary policy will complement these efforts and ensure price stability over the medium term. Between October 2019 and late January this year, the S$NEER hovered near the upper bound of the policy band amid broad-based US$ weakness. Construction activity also declined in Q1, in part reflecting disruptions to the inflow of workers and raw materials. 6. Fiscal, monetary and regulatory support in a number of major economies will help to mitigate the economic fallout, but is unlikely to change this weak outlook. The Resilience Budget announced on 26 March, and the earlier Unity Budget, will help to preserve jobs, skills and firms’ know-how and capabilities. 13. 12-month percent change in CPI for All Urban Consumers (CPI-U), not seasonally adjusted, Jan. 2020 - Jan. 2021 Percent change All items All items less food and energy 0.0 0.5 1.0 1.5 2.0 2.5 Jan'20 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan'21 Table A. Prices for all items excluding food and energy grew by 0.41% from April last year. endstream endobj 1970 0 obj <>>>/Filter/Standard/Length 128/O(%}ÛÇ[ˆòŽÙAÏ'’ ¨Z Ÿ „âe ‚Å€3¼×.F)/P -1340/R 4/StmF/StdCF/StrF/StdCF/U(ÿ ×“Bhúâ*#ٛ¿Iå )/V 4>> endobj 1971 0 obj <>/Metadata 41 0 R/Outlines 50 0 R/PageLayout/SinglePage/Pages 1967 0 R/StructTreeRoot 57 0 R/Type/Catalog>> endobj 1972 0 obj <>/ExtGState<>/Font<>/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 1973 0 obj <>stream The CPI inflation rates in the table are presented both on a monthly basis (compared to the month before) as well as on a yearly basis (compared to the same month the year before). The Consumer Price Index (CPI) measures the average price changes in a fixed basket of consumption goods and services commonly purchased by the resident households over time. Given these factors, both MAS Core Inflation and CPI-All Items inflation are expected to average between −1 and 0% in 2020. 18. Gasoline Prices in Singapore averaged 1.50 USD/Liter from 1990 until 2021, reaching an all time high of 1.80 USD/Liter in June of 2015 and a record low of 0.61 USD/Liter in December of 1990. The three-month S$ SIBOR fell from 1.8% in October 2019 to around 1.0% as at late March, following the decline in the US$ LIBOR during this period. 5. Consumer prices dropped a seasonally-adjusted 2.7% over the previous month in April, coming in below the 1.2% drop seen in March. The CPI without fuel covers all goods and services except unleaded petrol RON95, unleaded petrol RON97 and diesel. The recovery in the global economy will depend on the epidemiological course of the pandemic and the efficacy of policy responses. MAS Core Inflation, which excludes the costs of accommodation and private road transport, declined from 0.6% year-on-year in H2 2019 to an average of 0.1% in January–February 2020. Mohd Uzir said the CPI without fuel was at a positive rate of 0.1 per cent in May 2020 compared to 0.2 per cent in April 2020. Consequently, disinflationary pressures are expected to broaden, even as the prices of some imported items are likely to increase as a result of the disruptions in production and transport. For Singapore, the monthly Consumer Price Index (CPI) measures the average price changes in a fixed basket of consumption goods and services commonly purchased by the resident households over time. MAS is the central bank of Singapore. G20 - The Group of Twenty GDP - Gross Domestic Product MAS is thus lowering the 2020 forecast range for both MAS Core Inflation and CPI-All Items inflation to −1 to 0%. 1. Travel-related industries, such as aviation and tourism, have been hardest hit. Inflation India 2020 (CPI) - The inflation chart and table below feature an overview of the Indian inflation in 2020: CPI India 2020. The Singapore economy will contract this year. Meanwhile, non-labour costs such as retail rents should stay subdued. April 2020 CPI declined 2.9% year-on-year to 117.6 — the sharpest fall recorded since 2010. 11. 12. E. ... SINGAPORE CONSUMER PRICE INDEX (2019 as Base Year) MARCH 2020. The manufacturing sector recorded its fourth consecutive quarter of contraction, with lacklustre performances across most segments except for the biomedical and precision engineering industries. Consumer prices rose 0.34% in January over the previous month, picking up from the 0.17% increase recorded in December and marking the sharpest increase in prices since July 2020. Similarly, CPI‐All Items inflation declined to ‐0.7% y‐o‐y in April, from 0% in the previous month. This stable monetary policy stance also reflects the primary role of fiscal policy in mitigating the economic impact of COVID-19. With the deterioration in macroeconomic conditions and expectations of a weaker outlook, the S$NEER has depreciated to a level slightly below the mid-point of the policy band. This was partly due to a larger decline in retail goods prices, as well as government measures to reduce the costs of pre-school education and healthcare. MAS Core Inflation, which excludes the costs of accommodation and private road transport, declined from 0.6% year-on-year in H2 2019 to an average of 0.1% in January–February 2020. 16. The current level of the S$NEER is slightly below the mid-point of the policy band. CPI - Consumer Price Index CY - Calendar Year EU - European Union FY - Financial Year. On a quarter-on-quarter seasonally adjusted basis, GDP declined sharply by 10.6%, after expanding by 0.6% in Q4 2019. This was partly due to a larger decline in retail goods prices, as well as government measures to reduce the costs of pre-school education and healthcare. The COVID-19 pandemic has led to a severe contraction in economic activity both in Singapore and globally, due to the combination of supply chain disruptions, travel restrictions imposed in many countries and a sudden decline in demand. 3. About Singapore CPI All Items YoY Consumer prices (CPI) are a measure of prices paid by consumers for a market basket of consumer goods and services. Consumer prices declined 2.9% year-on-year in April, contrasting March’s 1.3% increase. Softer labour market conditions and weak consumer sentiment will keep cost pressures in check and cap their pass-through to consumer prices. The ongoing wave of COVID-19 outbreaks will continue to dampen global growth beyond the first half of the year, even as China is showing signs of recovery to normalcy. The measured adjustment to the policy stance was assessed to be appropriate given muted inflationary pressures. ‐1.1 ‐0.7 Apr Mar % YOY ‐1.6 ‐0.9 Apr Mar % YOY ug‘òøµœûŸÑÑƐ In particular, benchmark oil prices fell sharply in March and are expected to stay low for an extended period. The oil price should amount to 62 dollar per barrel in 2021 and 59 dollar per barrel in 2022. Looking ahead, global GDP growth is expected to stall or even contract in H1 2020, given the significant interruption to economic activity in most of Singapore’s major trading partners. These forecasts take into account futures of 23 February 2021. Overall, major uncertainty remains. MAS Core Inflation is likely to remain below its historical average in the near and medium term. 9. The outbreak of COVID-19 domestically and abroad has weighed on a broad spectrum of economic activities. Over the past five years, prices and rental rates of retail spaces in Singapore have dropped significantly. Activity will remain subdued in the travel-related and consumer-facing sectors until the pandemic is contained globally and in the region. Number of weekly active Clubhouse users 2020-2021 Created in April in 2020, the audio-based social networking platform Clubhouse has attracted over two million weekly active users as of January 2021. Jan-Mar 2020 / In its October 2019 Monetary Policy Statement, MAS reduced slightly the rate of appreciation of the S$NEER policy band. The Singapore economy will contract this year. The recovery in the global economy will depend on the epidemiological course of the pandemic and the efficacy of policy responses. 7. Within the non-core components of the CPI, rentals are expected to be broadly flat as demand for accommodation eases in line with the reduced inflow of foreign workers. Chart 2. Consumer Price Index CPI in Singapore decreased to 100.20 points in January from 100.50 points in December of 2020. The manufacturing sector recorded its fourth consecutive quarter of contraction, with lacklustre performances across most segments except for the biomedical and precision engineering industries. Given these factors, both MAS Core Inflation and CPI-All Items inflation are expected to average between −1 and 0% in 2020. This relates to inflation based on the consumer price index (CPI).When reference is made to the rate of inflation in a country, this usually refers to this CPI inflation figure. This policy decision hence affirms the present level of the S$NEER, as well as the width and zero percent appreciation slope of the policy band going forward, thus providing stability to the trade-weighted exchange rate. On a quarterly basis, the CPI dropped 3% compared with 1Q20. Consumer Price Index increased 2.0 percent for year ending April 2019. When we talk about the rate of inflation in India, this often refers to the rate of inflation based on the consumer price index, or CPI for short.The Indian CPI shows the change in prices of a standard package of goods and services … At this juncture, Singapore’s GDP growth is projected at −4 to −1%, which will result in a substantial widening of the negative output gap. Inflation Indonesia 2020 (CPI) - The inflation chart and table below feature an overview of the Indonesian inflation in 2020: CPI Indonesia 2020. Against this backdrop, the Singapore economy is expected to contract in 2020. imputed using the overall price change implied by the CPI‐All Items, in line with international guidelines. Between October 2019 and late January this year, the S$NEER hovered near the upper bound of the policy band amid broad-based US$ weakness. Car prices are likely to be largely unchanged as households hold back on expenditure that require large financial outlays. Percent changes in CPI for All Urban Consumers (CPI-U): U.S. city average MAS Core Inflation fell to ‐0.3% on a year‐on‐year (y‐o‐y) basis in April, from ‐0.2% in March. The government’s decision to freeze all its fees and charges for a year will further restrain inflation. The resident unemployment rate is expected to rise and wage growth ease. May 16, 2019. MAS will adopt a zero percent per annum rate of appreciation of the policy band starting at the prevailing level of the S$NEER. MAS’ money market operations will at the same time provide sufficient liquidity to the financial system. Given that the owner occupiers’ housing costs (OOH) component accounts for around 16% of the CPIH, it is the main driver for differences between the CPIH and Consumer Prices Index (CPI… SINGAPORE saw core consumer prices fall further in December, even as the headline measure moved out of deflation, according to Department of Statistics (Singstat) consumer price index (CPI) figures on Monday. Due to global trends such as burgeoning e-commerce markets and advancement in technologies, the corresponding dip in supply of projected retail space in 2020 reflects the shifting demands of customers and reduced demand for retail shops in Singapore. For the first four months of 2020, headline inflation and core inflation were -0.44% and 0.50% respectively. ,Àñå9tŠÆHë«x4B45Lku”›tßa4ñžH\òéÍYþú°Ç~ñŽi$Lj–°¥Yx%I`IJˆ.ºë‰cïÿ±§Y. S$ Nominal Effective Exchange Rate (S$NEER). Èo READ: Budget 2020: … Travel-related industries, such as aviation and tourism, have been hardest hit. GDP growth will eventually recover following the abrupt downshift in the level of activity, but there is significant uncertainty over the depth and duration of this recession. Read the Monetary Policy Statement for October 2019. On a monthly basis, the CPI decreased by 0.3 point in July and then increased by 0.4 point in August and 0.7 point in September. The headline consumer price index in January rose 0.8 per cent from a year earlier, slightly below poll expectations of 0.9 per cent. APRIL 2020. Since then, the S$NEER has depreciated in line with declining inflation and sharply weakening economic growth. In particular, benchmark oil prices fell sharply in March and are expected to stay low for an extended period. Gasoline Prices in Singapore increased to 1.73 USD/Liter in February from 1.55 USD/Liter in January of 2021. 4. Read the Monetary Policy Statement for April 2020. Softer labour market conditions and weak consumer sentiment will keep cost pressures in check and cap their pass-through to consumer prices. india inflation consumer price index CPI. The resident unemployment rate is expected to rise and wage growth ease. 8. The BLS releases a new CPI every month which represents the increase or decrease in the price of goods and services in several key categories.

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