Singapore: Inflation to have remained subdued – Standard Chartered

The Department of Statistics will release January inflation data on 24 February and  January industrial production (IP) data on 26 February. Strategists at Standard Chartered bank share their forecast. USD/SGD is sitting at 1.4000.

Key quotes

"We expect core and headline inflation to have remained subdued at 0.8% y/y and 0.9% y/y, respectively, both inching up a mild 0.1ppt from December." 

“We expect IP to have fallen 15.2% y/y, versus a 0.7% y/y decline in December, largely due to the Lunar New Year calendar effect.”

“We think the coronavirus only had a partial impact, if any, on IP in January. The adverse impact of the virus should be felt more acutely in February due to supply chain disruptions.”