Singapore's annual inflation rate jumped to 0.7% in February 2021 from 0.2% a month earlier and above market consensus of 0.6%. This was the highest reading since January 2020, amid rising consumption during the Lunar New Year festival. Main upward pressure came from food (1.6% vs 1.5% in January), transport (3.1% vs 0.7%) and recreation & culture (0.1% vs -1.2%). By contrast, there were falls in cost of clothing & footwear (-6.3% vs -4.6%), health (-0.2% vs -0.1%), and miscellaneous goods & services (-1.4% vs -1.5%). Core consumer prices, which exclude accommodation and private road transport costs, increased by 0.2% from a year earlier, the first yearly increase in 13 months, after a 0.2% drop in January and beating market forecasts of a 0.1% rise. On a monthly basis, consumer prices rose by 0.6% in February, the most in six months, after being unchanged in January. 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 April of 2021.
Inflation Rate in Singapore is expected to be 1.70 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 1.10 in 12 months time. In the long-term, the Singapore Inflation Rate is projected to trend around 1.50 percent in 2022, according to our econometric models.