Singapore's annual inflation rate climbed to 3.2% in October 2021 from 2.5% in September, above market forecasts of 2.8%. This was the highest figure since March 2013, boosted by a faster recovery in consumption as the economy reopens further. Main upward pressure came from food (1.7% vs 1.6% in September); housing (2.7% vs 2.3%), mostly due to accommodation; healthcare (1.7% vs 1.8%), led by outpatient services and hospital services; transport (11.1% vs 8.3%), due to private transport; recreation & culture (2.1% vs 1.5%), led by recreational & cultural services; and education (1.6% vs 1.3%), led by tuition & other fees. By contrast, declines were seen in cost of clothing (-3.2% vs -5.0%); communication (-1.6% vs -2.2%); and miscellaneous goods & services (-0.6% vs -0.3%). Core consumer prices rose 1.5% yoy, the most in nearly three years, after a 1.2% gain in September, exceeding estimates of 1.3%. On a monthly basis, consumer prices went up 0.3%, after a 0.4% gain in September. source: Statistics Singapore

Inflation Rate in Singapore averaged 2.50 percent from 1962 until 2021, reaching an all time high of 34.30 percent in March of 1974 and a record low of -3.10 percent in September of 1976. This page provides - Singapore Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.

Inflation Rate in Singapore is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Inflation Rate is projected to trend around 1.70 percent in 2022 and 1.50 percent in 2023, according to our econometric models.

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Singapore Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-10-25 05:00 AM Sep 2.5% 2.4% 2.4% 2.6%
2021-11-23 05:00 AM Oct 3.2% 2.5% 2.8% 3%
2021-12-23 05:00 AM Nov 3.2%


Related Last Previous Unit Reference
Inflation Rate 3.20 2.50 percent Oct/21
Inflation Rate Mom 0.30 0.40 percent Oct/21
Consumer Price Index CPI 102.95 102.66 points Oct/21
Core Consumer Prices 103.31 102.57 points Oct/21
Core Inflation Rate 1.50 1.20 percent Oct/21
GDP Deflator 107.38 106.75 points Sep/21
Producer Prices 103.26 101.08 points Oct/21
Export Prices 108.78 108.80 points Oct/21
Import Prices 109.15 109.10 points Oct/21
Food Inflation 1.70 1.60 percent Oct/21
Producer Prices Change 25.40 21.30 percent Oct/21
CPI Transportation 111.22 108.67 points Oct/21
CPI Housing Utilities 101.20 102.17 points Oct/21

News Stream
Singapore Inflation Rate Highest Since 2013
Singapore's annual inflation rate climbed to 3.2% in October 2021 from 2.5% in September, above market forecasts of 2.8%. This was the highest figure since March 2013, boosted by a faster recovery in consumption as the economy reopens further. Main upward pressure came from food (1.7% vs 1.6% in September); housing (2.7% vs 2.3%), mostly due to accommodation; healthcare (1.7% vs 1.8%), led by outpatient services and hospital services; transport (11.1% vs 8.3%), due to private transport; recreation & culture (2.1% vs 1.5%), led by recreational & cultural services; and education (1.6% vs 1.3%), led by tuition & other fees. By contrast, declines were seen in cost of clothing (-3.2% vs -5.0%); communication (-1.6% vs -2.2%); and miscellaneous goods & services (-0.6% vs -0.3%). Core consumer prices rose 1.5% yoy, the most in nearly three years, after a 1.2% gain in September, exceeding estimates of 1.3%. On a monthly basis, consumer prices went up 0.3%, after a 0.4% gain in September.
2021-11-23
Singapore Inflation Rate Unexpectedly Edges Higher
Singapore's annual inflation rate unexpectedly was at 2.5% in September 2021, compared with market estimates and August's figure of 2.4%. The latest reading returned to July's near 8-year high level, as consumption recovered further in the wake of COVID-19 disruptions. Main upward pressure largely came from food (1.6% vs 1.5% in August); housing (2.3% vs 2.2%), mostly due to accommodation; healthcare (1.8% vs 1.7%), led by outpatient services and hospital services; transport (8.3% vs 8.3%), driven by private transport; recreation & culture (1.5% vs 1.4%), led by recreational & cultural services; and education (1.3% vs 1.3%), mainly due to tuition & other fees. In contrast, cost fell further for clothing (-5.0% vs -6.2%); communication (-2.2% vs -2.2%); and miscellaneous goods & services (-0.3% vs -0.1%). On a monthly basis, consumer prices rose by 0.4% in September after gaining the most in three months of 0.5% in August.
2021-10-25
Singapore Inflation Rate Matches Forecasts
Singapore's annual inflation rate was at 2.4% in August 2021, in line with market expectations and little changed from July's near 8-year high of 2.5%, as consumption continued to recover in the wake of COVID-19 disruptions. Main upward pressure largely came from food (1.5% vs 1.1% in July); housing (2.2% vs 1.9%), mostly due to accommodation; healthcare (1.7% vs 1.6%), led by outpatient services and hospital services; transport (8.3% vs 9.6%), driven by private transport; recreation & culture (1.4% vs 1.4%), led by holiday expenses; and education (1.3% vs 1.4%), mainly due to tuition & other fees. In contrast, there were falls in cost of clothing (-6.2% vs-5.5%); communication (-2.2% vs -1.5%); and miscellaneous goods & services (-0.1% vs -0.7%). On a monthly basis, consumer prices rose by 0.5% in August, the most in 3 months, after a 0.2% drop in July.
2021-09-23

Singapore Inflation Rate
In Singapore, the most important categories in the consumer price index are housing (25 percent of total weight) and food (22 percent). The index also includes: transport (16 percent), education (7 percent), health (6 percent), communication (5 percent) and clothing and footwear (3 percent). Recreation, alcoholic beverages, tobacco and others account for the remaining 16 percent of total weight.