Singapore's annual inflation rate climbed to 5.4% in March 2022 from 4.3% in February, above market estimates of 4.7%. This was the highest reading since April 2012 with main upward pressure coming from cost of food (3.3% vs 2.3% in February); housing 4.4% vs (4.1%), mostly due to accommodation; healthcare (1.1% vs 1.9%), led by outpatient services and hospital services; transport (19.7% vs 12.8%), due to private transport; recreation & culture (2.2% vs 0.8%), led by holiday expenses and recreational & cultural services; and education (2% vs 2%), driven by tuition & other fees. By contrast, prices fell further for both clothing (-3.3% vs -2.8%), and communication (-2.6% vs -3.1%). Core consumer prices gained 2.9% yoy in March, the most since March 2012, surpassing estimates of 2.4%. On a monthly basis, consumer prices went up 1.2% in March, the most since July 2011. The government expects 2022 annual inflation to be between 4.5-5.5%, while core inflation to average between 2.5-3.5%. source: Statistics Singapore
Inflation Rate in Singapore averaged 2.51 percent from 1962 until 2022, 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 May of 2022.
Inflation Rate in Singapore is expected to be 4.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Inflation Rate is projected to trend around 1.90 percent in 2023 and 1.50 percent in 2024, according to our econometric models.