Singapore inflation likely fell for a fourth consecutive month

Singapore will release February CPI inflation data on 23 March.

Standard Chartered notes...

• We expect inflation to have declined 0.2% y/y, versus a 0.4% decrease in January. 
  
  
• Inflation likely increased 0.2% m/m owing to the Lunar New Year holiday, which kept food inflation slightly higher than in previous months. 
  
  
• The increase in gasoline duties near the end of February probably also limited transport deflation. However, housing inflation likely remained the main drag on inflation. 
  
  
• We expect inflation to remain benign in H1-2015 before it rises gradually in H2.