Singapore inflation to continue transitory phase for rest of 2021 | Asian Business Review
, Singapore

Singapore inflation to continue transitory phase for rest of 2021

Upside risks, however, will continue to persist throughout the year.

As Singapore’s consumer prices rose at 2.5% year-on-year (YoY), UOB predicted a transition period for the year 2021. 

In the seventh straight month of rising consumer prices, an uptick of 1.7% was recorded. 

Core inflation was also noted by UOB for most industries.

“Core inflation, which strips out private road transport and accommodation prices, was supported by almost all clusters except for clothing and footwear (-5.5% YoY), communications (-1.5% YoY), and miscellaneous goods and services (-0.7% YoY).”

Headline inflation is also expected to stay between 1% to 2% for 2021, an increase from 0.5% to 1.5% in the previous report. 

UOB predicted that these factors should remain in effect for the rest of the year. Support for inflation is also expected to take place as a result of these upticks.

Follow the link for more news on

Join Asian Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

How AI/ML curation helps Blibli to always provide original products
Blibli’s AI technology is able to detect indications of counterfeit goods 10 times faster.
Indonesia’s new regulation speeds up energy transitions
The government has issued Presidential Regulation No. 112 of 2022 to limit the coal-fired power plants and gradually reduce coal consumption.