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.

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Singapore Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.20 34.30 -3.10 1962 - 2021 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-12-23 05:00 AM Nov -0.1% -0.2% -0.2% 0.2%
2021-01-25 05:00 AM Dec 0.0% -0.1% -0.1% -0.1%
2021-02-23 05:00 AM Jan 0.2% 0.0% 0.15% 0.3%
2021-03-23 05:00 AM Feb 0.7% 0.2% 0.6% 0.4%
2021-04-23 05:00 AM Mar 0.7% 1.0%
2021-05-24 05:00 AM Apr 1.9%
2021-06-23 05:00 AM May
2021-07-23 05:00 AM Jun
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Singapore Inflation Rate Tops Estimates
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.
2021-03-23
Singapore Consumer Prices Rise for 1st Time in Nearly a Year
Consumer prices in Singapore rose by 0.2% yoy in January 2021, compared with market estimates of a 0.15% gain and after being flat in December. It was the first increase in consumer prices since February of 2020, as consumption improved in the wake of the COVID-19 crisis. Main upward pressure came from both food (1.5% vs 1.6% in December) and transport (0.7% vs 0.6%). In contrast, there were falls in cost of clothing & footwear (-4.6% vs -4.1%), health (-0.1% vs -0.4%), recreation & culture (-1.2% vs -2.2%), and miscellaneous goods & services (-1.5% vs -1.4%). Core consumer prices, which exclude accommodation and private road transport costs, dropped by 0.2% from a year earlier, after a 0.3% fall in December and matching market forecasts. On a monthly basis, consumer prices were unchanged, after a 0.4 percent rise in December.
2021-02-23
Singapore Consumer Prices Unchanged in December
Consumer prices in Singapore unexpectedly were unchanged from a year earlier in December 2020, after decreasing by 0.1 percent in the previous month, and compared with forecasts of a 0.1% fall. There were rises in prices of food (1.6% vs 1.8% in November) while that of transport rebounded (0.6% vs -0.4%).Prices fell for: housing & utilities (-0.2% vs -0.3%), clothing & footwear (-4.1% vs -5.8%), health (-0.4% vs -0.5%), recreation & culture (-2.2% vs -1.9%), and miscellaneous goods & services (-1.4% vs -1.7%). Core consumer prices, which excludes accommodation and private road transport costs, dropped by 0.3% from a year earlier, the most since August, after a 0.1% fall in November and compared with market forecasts of a 0.1 percent drop. On a monthly basis, consumer prices were up by 0.4%, the same pace as in November.
2021-01-25
Singapore Consumer Prices Drop Less than Expected
Consumer prices in Singapore edged down 0.1 percent year-on-year in November 2020, after declining by 0.2 percent in the previous month, and compared with forecasts of a 0.2% fall. Prices fell for: housing & utilities (-0.3%, the same pace as in October), transport (-0.4% vs -0.6%), clothing & footwear (-5.8% vs -4.3%), health (-0.5% vs -2.0%), recreation & culture (-1.9% vs -1.7%), and miscellaneous goods & services (-1.7% vs -1.3%). There were rises in prices of food (1.8% vs 1.7% in October). Core consumer prices, which excludes accommodation and private road transport costs, dropped by 0.1% from a year earlier, after a 0.2% decrease in October and in line with forecasts. On a monthly basis, consumer prices went up by 0.4%, after declining 0.4% in October.
2020-12-23

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.