Singapore releases March inflation numbers on 23 April. On a seasonally adjusted m/m basis, inflation likely decreased to -0.1%. Singapore’s current path of disinflation is temporary. Housing inflation likely continued to drag down headline inflation, as decreases in housing prices weighed on the rental market. Private road transport inflation was also likely dragged down by a sharper correction in ownership premiums on motor vehicles. In contrast, petrol duties implemented in February likely continued to support core inflation. A deflationary pressures is seen dissipating as the year progresses. “We expect inflation to have declined further to -0.5% y/y, versus the higher -0.3% recorded in February”, says Standard Chartered.
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