Singapore's annual inflation rate accelerated to 5.6% in May 2022 from April of 5.4%, pointing to the highest level since November 2011, and beating market estimates of 5.5%. Main upward pressure came from cost of food (4.5% vs 4.1% in April); clothing (2.2% vs 0.8%); housing (5.0% vs 5.0%), mostly due to utilities & other fuels; healthcare (1.3% vs 1.6%), led by hospital services; transport (15.5% vs 15.5%), due to private transport; recreation & culture (3.5% vs 2.7%), led by holiday expenses and recreational & cultural services; and education (2.4% vs 2%), driven by tuition & other fees. Meantime, cost of communication dropped less (-0.8% vs -0.9%). Core consumer prices rose 3.6% yoy, the most since December 2008, and above market consensus of 3.5%. On a monthly basis, consumer prices climbed 1.0% in May, recovering from a 0.1% fall in April. 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 2.52 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 July of 2022.

Inflation Rate in Singapore is expected to be 6.70 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.

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Singapore Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-23 05:00 AM Apr 5.4% 5.4% 5.5% 5.5%
2022-06-23 05:00 AM May 5.6% 5.4% 5.5% 5.2%
2022-07-22 05:00 AM Jun 5.6%


Related Last Previous Unit Reference
Inflation Rate 5.60 5.40 percent May 2022
Inflation Rate Mom 1.00 -0.10 percent May 2022
Consumer Price Index CPI 107.61 106.55 points May 2022
Core Consumer Prices 104.12 107.58 points May 2022
Core Inflation Rate 3.60 3.30 percent May 2022
GDP Deflator 112.66 107.89 points Mar 2022
Producer Prices 116.53 126.80 points May 2022
Export Prices 125.90 124.13 points May 2022
Import Prices 126.50 123.74 points May 2022
Food Inflation 4.50 4.10 percent May 2022
CPI Transportation 123.93 123.34 points May 2022
Producer Prices Change 31.40 30.00 percent May 2022
CPI Housing Utilities 106.16 103.42 points May 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
5.60 5.40 34.30 -3.10 1962 - 2022 percent Monthly
NSA

News Stream
Singapore Inflation Rate at 10-1/2-Year High of 5.6%
Singapore's annual inflation rate accelerated to 5.6% in May 2022 from April of 5.4%, pointing to the highest level since November 2011, and beating market estimates of 5.5%. Main upward pressure came from cost of food (4.5% vs 4.1% in April); clothing (2.2% vs 0.8%); housing (5.0% vs 5.0%), mostly due to utilities & other fuels; healthcare (1.3% vs 1.6%), led by hospital services; transport (15.5% vs 15.5%), due to private transport; recreation & culture (3.5% vs 2.7%), led by holiday expenses and recreational & cultural services; and education (2.4% vs 2%), driven by tuition & other fees. Meantime, cost of communication dropped less (-0.8% vs -0.9%). Core consumer prices rose 3.6% yoy, the most since December 2008, and above market consensus of 3.5%. On a monthly basis, consumer prices climbed 1.0% in May, recovering from a 0.1% fall in April. The government expects 2022 annual inflation to be between 4.5-5.5%, while core inflation to average between 2.5-3.5%.
2022-06-23
Singapore Inflation Rate Stays Near A Decade-High
Singapore's annual inflation rate was at 5.4% in April 2022, unchanged from March's print which was near a ten-year peak and compared with market estimates of 5.5%. Main upward pressure came from cost of food (4.1% vs 3.3% in March); clothing (0.8% vs -3.3%); housing 5.0% vs 4.4%), mostly due to accommodation; healthcare (1.6% vs 1.2%), led by outpatient services and hospital services; transport (15.5% vs 19.7%), due to private transport; recreation & culture (2.7% vs 2.2%), led by holiday expenses and recreational & cultural services; and education (2% vs 2%), driven by tuition & other fees. Meantime, cost of communication fell less (-0.9% vs -2.6%). Core consumer prices gained 3.3% yoy, the most since January 2012, compared with consensus of 3.3%. On a monthly basis, consumer prices fell 0.1% in April, the first drop in nine months, after a 1.2% rise in March. The government expects 2022 annual inflation to be between 4.5-5.5%, while core inflation to average between 2.5-3.5%.
2022-05-23
Singapore Inflation Rate Picks Up to Near Decade High
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%.
2022-04-25