Singapore Inflation Rate1962-2021 Data | 2022-2023 Forecast | Calendar | Historical

Singapore's annual inflation rate was at 2.4% in June 2021, unchanged from May's 7-1/2-year-high figure and compared with market estimates of 2.5%. Services inflation was stable (at 1.4%); while private transport inflation picked up (14.9% vs 14.5% in May), amid a steeper rise in car prices. At the same time, accommodation inflation accelerated (1.1% vs 0.9%), as housing rents rose faster. In contrast, cost of retail & other goods fell more sharply (-1.8% vs -0.8%), mostly due to a steeper decline in the price of clothing & footwear. Core consumer prices, which exclude accommodation and private road transport costs, went up by 0.6% yoy, after a 0.8% rise in May which was the most since June 2019. On a monthly basis, consumer prices were unchanged after jumping 0.8% in May.

Singapore's annual inflation rate increased to 2.4% in May 2021 from 2.1% a month earlier and above market consensus of 2.2%. This was the highest reading since November 2013, mainly driven by higher private transport, services and accommodation inflation and a low base effect. Private transport costs rose more (14.5 % vs 12.9% in April), due to a faster rise in petrol prices, while services inflation accelerated (1.4% vs 1.1%) on the back of an increase in telecommunication services fees as well as higher point-to-point transport and health insurance inflation. Meantime, accommodation inflation edged up to 0.9% from 0.7%, as housing rents rose at a faster pace. Core consumer prices, which exclude accommodation and private road transport costs, advanced by 0.8% yoy, the highest since June 2019, following a 0.6% rise in April and compared with forecasts of a 0.7% gain. On a monthly basis, consumer prices surged by 0.8% in May, rebounding from a 0.2% fall in April.

Singapore's annual inflation rate jumped to 2.1% in April 2021 from 1.3% a month earlier and compared with market consensus of 2%. This was the highest reading since May 2014, amid strengthening consumption in the wake of the coronavirus pandemic. Main upward pressure came from food (1.0% vs 1.4% in March), transport (9.7% vs 5.7%), health (0.9% vs 1%), and recreation & culture (0.8% vs 0.3%). At the same time, cost fell at softer rates for both clothing & footwear (-4.9% vs -4.8%), and miscellaneous goods & services (-0.3% vs -1.1%). Core consumer prices, which exclude accommodation and private road transport costs, increased by 0.6% yoy, the highest since December 2019, after a 0.5% rise in March and compared with forecasts of 0.9%. On a monthly basis, consumer prices fell by 0.2% in April, after a 0.2% gain in March.

Singapore's annual inflation rate jumped to 1.3% in March 2021 from 0.7% a month earlier and roughly in line with the market consensus of 1.25%. This was the highest reading since May 2017, amid strengthening consumption in the wake of the coronavirus pandemic. Main upward pressure came from food (1.4% vs 1.6% in February), transport (5.7% vs 3.1%), health (1% vs -0.2%), and recreation & culture (0.3% vs 0.1%). On the other hand, there were falls in cost of both clothing & footwear (-4.8% vs -6.3%), and miscellaneous goods & services (-1.1% vs -1.4%). Core consumer prices, which exclude accommodation and private road transport costs, increased by 0.5% from a year earlier, the highest since December 2019, after a 0.2% rise in February and above forecasts of a 0.1% rise. On a monthly basis, consumer prices rose by 0.2% in March, after a 0.6% gain in February.