Singapore's annual inflation rate inched higher to 0.5 percent in February of 2019 from 0.4 percent in January and matching market expectations, as both housing and transport prices fell less than in a month earlier while food inflation remained steady for the fourth straight month. On month-on-month basis, consumer prices rose 0.5 percent in February, reversing from a 0.3 percent fall in January. Inflation Rate in Singapore averaged 2.58 percent from 1962 until 2019, reaching an all time high of 34 percent in March of 1974 and a record low of -3.10 percent in September of 1976.

Inflation Rate in Singapore is expected to be 0.60 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 1.20 in 12 months time. In the long-term, the Singapore Inflation Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.

Singapore Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-24 05:00 AM Inflation Rate YoY 0.3% 0.7% 0.6% 0.7%
2019-01-23 05:00 AM Inflation Rate YoY 0.5% 0.3% 0.4% 0.5%
2019-02-25 05:00 AM Inflation Rate YoY 0.4% 0.5% 0.6% 0.7%
2019-03-25 05:00 AM Inflation Rate YoY 0.5% 0.4% 0.5% 0.5%
2019-04-23 05:00 AM Inflation Rate YoY 0.5% 0.6%
2019-05-23 05:00 AM Inflation Rate YoY
2019-06-25 05:00 AM Inflation Rate YoY



Singapore Inflation Rate Edges Up to 0.5% in February

Singapore's annual inflation rate inched higher to 0.5 percent in February of 2019 from 0.4 percent in January and matching market expectations, as both housing and transport prices fell less than in a month earlier while food inflation remained steady for the fourth straight month.

Year-on-year, cost fell at a slower pace for housing & utilities (-0.4 percent vs -0.5 percent in January), amid a smaller drop in prices of accommodation (-1.6 percent vs -1.9 percent). Also, prices decreased less for transport (-1.2 percent vs -1.8 percent), namely private road transport (-2.3 percent vs -3.4 percent); and communications (-2.4 percent vs -2.9 percent).

Meantime, food inflation stood at 1.4 percent, unchanged from the previous three months. Among food excluding food servicing services, cost rose for: bread & cereals (2.5 percent, the same pace as in January); milk, cheese & eggs (1.3 percent vs 1.6 percent); oils & fats (3.2 percent vs 2.5 percent); fruits (3.7 percent vs 2.7 percent); sugar, preserves & confectionery (0.7 percent vs 1.1 percent); and non-alcoholic beverages (2.3 percent vs 2.1 percent). Contrarily, prices declined for both meat (-0.2 percent vs -0.3 percent) and fish & seafood (-1.3 percent vs 3.3 percent) while vegetables prices were unchanged (vs -2.7 percent). Among food servicing services, prices increases were recorded for catered food (4.1 percent vs 3.4 percent); hawker food including food courts (1.7 percent vs 1.6 percent); restaurant food (1.5 percent, the same pace as in January), and fast food (1.2 percent after a flat reading in January ). 

Also, inflation was steady for healthcare (at 1.7 percent) while household durables & services prices went up slightly faster (0.8 percent vs 0.7 percent).

In contrast, cost slowed for: clothing & footwear (1.2 percent vs 2.5 percent);  recreation & culture (0.7 percent vs 0.9 percent); education (2.7 percent vs 3.2 percent); miscellaneous goods & services (1.3 percent vs 1.4 percent). 

Annual core inflation, which exclude costs of accommodation and private road transport, edged down to 1.5 percent in February from 1.7 percent in January, below market expectations of 1.7 percent and staying at its lowest level since May 2018.

On a month-on-month basis, consumer prices increased 0.5 percent in February, the most since May last year, reversing from a 0.3 percent fall in January. 

For 2019, the central bank and trade ministry expects Singapore inflation within 0.5-1.5 percent target range.
 
 


Statistics Singapore l Chusnul Ch Manan | chusnul@tradingeconomics.com
3/25/2019 12:33:21 PM



Singapore Prices Last Previous Highest Lowest Unit
Inflation Rate 0.50 0.40 34.00 -3.10 percent [+]
Inflation Rate Mom 0.50 -0.30 4.74 -1.87 percent [+]
Consumer Price Index CPI 100.50 99.90 100.50 24.17 Index Points [+]
Core Consumer Prices 104.10 104.00 105.20 63.85 Index Points [+]
Core Inflation Rate 1.50 1.70 3.50 -1.40 percent [+]
GDP Deflator 111.74 109.71 111.74 46.64 Index Points [+]
Producer Prices 80.20 80.60 114.45 65.46 Index Points [+]
Export Prices 97.20 98.10 213.89 81.70 Index Points [+]
Import Prices 98.40 99.30 123.84 73.71 Index Points [+]
Food Inflation 1.40 1.40 15.62 -7.71 percent [+]
Producer Prices Change -1.90 -0.40 29.27 -22.20 percent [+]
CPI Housing Utilities 89.20 87.90 101.14 23.39 Index Points [+]
CPI Transportation 97.80 97.40 107.06 20.22 Index Points [+]


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. This page provides - Singapore Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore Inflation Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.40 34.00 -3.10 1962 - 2019 percent Monthly
2014=100




Country Last Previous
Argentina 50.70 Feb/19
Australia 1.80 Dec/18
Brazil 3.89 Feb/19
Canada 1.50 Feb/19
China 1.50 Feb/19
Euro Area 1.50 Feb/19
France 1.30 Feb/19
Germany 1.50 Feb/19
India 2.57 Feb/19
Indonesia 2.57 Feb/19
Italy 1.00 Feb/19
Japan 0.20 Feb/19
Mexico 3.94 Feb/19
Netherlands 2.60 Feb/19
Russia 5.20 Feb/19
Saudi Arabia -2.20 Feb/19
Singapore 0.50 Feb/19
South Africa 4.10 Feb/19
South Korea 0.50 Feb/19
Spain 1.10 Feb/19
Switzerland 0.60 Feb/19
Turkey 19.67 Feb/19
United Kingdom 1.90 Feb/19
United States 1.50 Feb/19


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