Consumer prices in Singapore dropped 0.5 percent year-on-year in June 2020, after falling 0.8 percent in May and compared with market consensus of a 0.55 percent decline. It was the third straight month of deflation, but the lowest in current sequence, as cost fell less for transport (-3.1% vs -4.8% in May); clothing & footwear (-3.2% vs -4.4%); and health (-1.7 vs -1.9%). In addition, prices rose further for both food (2.3% vs 2.2%) and housing & utilities (0.2%vs 0.1%) while cost of furnishings were unchanged (vs -0.4% in May). On the other hand, prices decreased at a faster pace for miscellaneous goods & services (-1.9% vs -1.4%) and recreation & culture (-2.9% vs -2%). Core consumer prices, which excludes accommodation and private road transport costs, fell 0.2% over a year earlier, the same pace as in May, and matching expectations. On a monthly basis, consumer prices were flat in June, after a 0.5% gain in May.

Inflation Rate in Singapore averaged 2.53 percent from 1962 until 2020, 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 August of 2020. source: Statistics Singapore

Inflation Rate in Singapore is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Singapore to stand at 1.90 in 12 months time. In the long-term, the Singapore Inflation Rate is projected to trend around 2.00 percent in 2021 and 1.90 percent in 2022, according to our econometric models.

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Singapore Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.50 -0.80 34.30 -3.10 1962 - 2020 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-23 05:00 AM Mar 0.0% 0.3% -0.25% -0.2%
2020-05-26 05:00 AM Apr -0.7% 0.0% -0.4% -0.3%
2020-06-23 05:00 AM May -0.8% -0.7% -0.95% -1.1%
2020-07-23 05:00 AM Jun -0.5% -0.8% -0.55% -0.3%
2020-08-24 05:00 AM Jul -0.5% 0.1%
2020-09-23 05:00 AM Aug
2020-10-23 05:00 AM Sep 1.1%
2020-11-25 05:00 AM Oct


News Stream
Singapore Deflation Slows in June
Consumer prices in Singapore dropped 0.5 percent year-on-year in June 2020, after falling 0.8 percent in May and compared with market consensus of a 0.55 percent decline. It was the third straight month of deflation, but the lowest in current sequence, as cost fell less for transport (-3.1% vs -4.8% in May); clothing & footwear (-3.2% vs -4.4%); and health (-1.7 vs -1.9%). In addition, prices rose further for both food (2.3% vs 2.2%) and housing & utilities (0.2%vs 0.1%) while cost of furnishings were unchanged (vs -0.4% in May). On the other hand, prices decreased at a faster pace for miscellaneous goods & services (-1.9% vs -1.4%) and recreation & culture (-2.9% vs -2%). Core consumer prices, which excludes accommodation and private road transport costs, fell 0.2% over a year earlier, the same pace as in May, and matching expectations. On a monthly basis, consumer prices were flat in June, after a 0.5% gain in May.
2020-07-23
Singapore Consumer Prices Fall the Most in 4 Years
Consumer prices in Singapore dropped 0.8 percent year-on-year in May 2020, after declining 0.7 percent in April and compared with market consensus of a 0.95 percent fall. It was the steepest decline in consumer prices since May 2016, as cost fell further for transport (-4.8% vs -4% in April); clothing & footwear (-4.4% vs -3.2%); miscellaneous goods & services (-1.4% vs -0.9%); health (-1.9 vs -1.8%); and furnishings (-0.4% vs -0.2%). On the other hand, food inflation quickened (2.2% vs 2.1%), while inflation was steady for housing & utilities inflation (at 0.1%). Also, cost of recreation & culture fell at a softer pace (-2% vs -2.8%). Core consumer prices, which excludes accommodation and private road transport costs, fell 0.2% yoy, for the fourth straight month, defying expectations of a 0.4% drop and after a 0.3% decline in April. On a monthly basis, consumer prices went up 0.5% in May, after a 0.9% drop in April.
2020-06-23
Singapore Consumer Prices Fall for 1st Time in 3-1/2 Years
Consumer prices in Singapore dropped 0.7% yoy in April 2020, after a flat reading in March and compared with market consensus of a 0.4% fall. It was the first decline in consumer prices since October 2016, amid plunging prices of transport (-4% vs 0.1% in March). Also, prices decreased for clothing & footwear (-3.2% vs -2.8%); recreation & culture (-2.8% vs -1.8%); miscellaneous goods & services (-0.9% vs -0.2%); health (-1.8%, the same pace as in March); education (-0.6% vs -0.5%) and furnishings (-0.2% vs 0.5%). Meantime, food inflation quickened (2.1% vs 1.5%), while cost of housing & utilities rebounded (0.1% vs -0.1%). Core consumer prices, which excludes accommodation and private road transport costs, fell 0.3% yoy, for the third straight month, defying expectations of a 0.4% drop and after a 0.2% decline in March. On a month-on-month basis, consumer prices went down 0.9% in April, the biggest fall since April 2013, after a 0.3% drop in March.
2020-05-26
Singapore Consumer Prices Unchanged in March
Singapore's consumer prices were unchanged from a year earlier in March 2020, after a 0.3 percent rise in the previous month and compared with market consensus of a 0.25 percent fall. Prices went up less for both food (1.5% vs 1.6% in February) and transport (0.1% vs 1.7%). On the other hand, cost fell further for housing & utilities (-0.1% vs -0.2%), education (-0.5% vs -0.5%), healthcare (-1.8% vs -1.5%), and clothing & footwear (-2.8% vs -2.7%). Meanwhile, prices of miscellaneous goods & services fell 0.2 percent, after a flat reading in February. The annual core consumer prices, which excludes accommodation and private road transport costs, dropped 0.2%, the second straight month of decline in prices, defying expectations of a 0.4 percent drop and after a 0.1% fall in February. On a month-on-month basis, consumer prices went down 0.3% in March, after a 0.1% gain in February.
2020-04-23

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.