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. 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 August of 2021.

Inflation Rate in Singapore is expected to be 2.00 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 1.50 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.

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Singapore Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.40 2.40 34.30 -3.10 1962 - 2021 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-04-23 05:00 AM Mar 1.3% 0.7% 1.25% 1.0%
2021-05-24 05:00 AM Apr 2.1% 1.3% 2% 1.9%
2021-06-23 05:00 AM May 2.4% 2.1% 2.2% 2.4%
2021-07-23 05:00 AM Jun 2.4% 2.4% 2.5% 2.6%
2021-08-23 05:00 AM Jul 2.4%
2021-09-23 05:00 AM Aug
2021-10-25 05:00 AM Sep
2021-11-23 05:00 AM Oct


News Stream
Singapore Inflation Rate Holds at 7-1/2-Year High
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.
2021-07-23
Singapore Inflation Rate at 7-1/2-Year High 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.
2021-06-23
Singapore Inflation Rate Rises to 7-Year High
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.
2021-05-24
Singapore Inflation Rate Highest in Near 4 Years
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.
2021-04-23

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.