Here's what could buoy consumer prices this year

This year’s overall higher exports and commodity prices is one.

Singapore’s consumer price index (CPI) growth slowed to 0.4% YoY in April, caused mainly by differences in the disbursement schedule of service & conservancy charges rebates compared to last year.

According to RHB, CPI is expected to remain positive this year and will be supported by three factors namely the low base effect following two years of decline, the overall higher exports and commodity prices this year, and the small pick-up in consumer sentiment.

However, RHB noted that the rise is expected to remain benign, given the property market's continued softness due to oversupply issues.

"Furthermore, with cost-push factors continuing to drive inflation, amid deteriorating unemployment figures, we believe that the MAS (Monetary Authority of Singapore) would refrain from altering its monetary policy in the next meeting this October" RHB said.