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Singapore expects lowest inflation in three years

Singapore’s inflation is expected to hit a three-year low due to plunging oil prices and global growth uncertainty, according to a quarterly survey released by the Singapore Management University on January 19.
Singapore’s inflation is expected to hit a three-year low due toplunging oil prices and global growth uncertainty, according to aquarterly survey released by the Singapore Management University onJanuary 19.

The predicted inflation, for Singaporehouseholds, has increased slightly from the September 2014 forecast of3.37 percent to 3.53 percent.

Compared to the historicalinflation expectation average of 4.11 percent and the 2014 fourthquarter average of 4.08 percent, the current inflation expectationreveals that Singapore households are cognisant of global conditions andare responding to price fluctuations and data from policymakers.

Speaking to the parliament on the same day, Singaporean Minister forTrade and Industry Lim Hng Kiang said the Singaporean economy, as a netimporter of oil, stands to benefit from lower global oil prices.

A drop in oil prices will translate into reduced electricity and fuelcosts, which will directly benefit businesses and consumers, he added.-VNA
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