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.