Singapore's annual inflation rate was at 2.4% in August 2021, in line with market expectations and little changed from July's near 8-year high of 2.5%, as consumption continued to recover in the wake of COVID-19 disruptions. Main upward pressure largely came from food (1.5% vs 1.1% in July); housing (2.2% vs 1.9%), mostly due to accommodation; healthcare (1.7% vs 1.6%), led by outpatient services and hospital services; transport (8.3% vs 9.6%), driven by private transport; recreation & culture (1.4% vs 1.4%), led by holiday expenses; and education (1.3% vs 1.4%), mainly due to tuition & other fees. In contrast, there were falls in cost of clothing (-6.2% vs-5.5%); communication (-2.2% vs -1.5%); and miscellaneous goods & services (-0.1% vs -0.7%). On a monthly basis, consumer prices rose by 0.5% in August, the most in 3 months, after a 0.2% drop in July. 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 October of 2021.

Inflation Rate in Singapore is expected to be 1.80 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 1.50 percent in 2022 and 2.10 percent in 2023, according to our econometric models.

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Singapore Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-23 05:00 AM Jul 2.5% 2.4% 2.5% 2.3%
2021-09-23 05:00 AM Aug 2.4% 2.5% 2.4% 2.5%
2021-10-25 05:00 AM Sep 2.4% 2.4% 2.6%


News Stream
Singapore Inflation Rate Matches Forecasts
Singapore's annual inflation rate was at 2.4% in August 2021, in line with market expectations and little changed from July's near 8-year high of 2.5%, as consumption continued to recover in the wake of COVID-19 disruptions. Main upward pressure largely came from food (1.5% vs 1.1% in July); housing (2.2% vs 1.9%), mostly due to accommodation; healthcare (1.7% vs 1.6%), led by outpatient services and hospital services; transport (8.3% vs 9.6%), driven by private transport; recreation & culture (1.4% vs 1.4%), led by holiday expenses; and education (1.3% vs 1.4%), mainly due to tuition & other fees. In contrast, there were falls in cost of clothing (-6.2% vs-5.5%); communication (-2.2% vs -1.5%); and miscellaneous goods & services (-0.1% vs -0.7%). On a monthly basis, consumer prices rose by 0.5% in August, the most in 3 months, after a 0.2% drop in July.
2021-09-23
Singapore Inflation Rate Ticks Up to Near 8-Year High
Singapore's annual inflation edged up to 2.5% in July 2021 from 2.4% in June and matching market consensus. This was the highest reading since November 2013, as consumption recovered in the wake of COVID-19 disruptions. Main upward pressure largely came from food (1.1% vs 0.9% in June); housing (1.9% vs 0.8%), mostly due to accommodation; healthcare (1.6% vs 1.1%), led by outpatient services and hospital services; transport (9.6% vs 11.1%), driven by private transport; recreation & culture (1.4% vs 1.1%), led by holiday expenses; and education (1.4% vs 1.3%), mainly due to tuition & other fees. In contrast, cost fell at a softer rates for both clothing (-5.5% vs-9%); and and miscellaneous goods & services (-0.7% vs -0.1%). Meantime, prices of communication fell by 1.5% after gaining 0.2% in June. On a monthly basis, consumer prices fell 0.2% in July, compared to a flat reading in June.
2021-08-23
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 Last Unit Reference Previous Highest Lowest
Inflation Rate 2.40 percent Aug/21 2.50 34.30 -3.10
Inflation Rate Mom 0.50 percent Aug/21 -0.20 4.80 -1.90
Consumer Price Index CPI 102.20 points Aug/21 101.67 102.20 24.05
Core Inflation Rate 1.10 percent Aug/21 1.00 6.50 -1.40
Core Consumer Prices 100.80 points Aug/21 101.94 101.94 63.85
GDP Deflator 106.75 points Jun/21 105.33 110.90 43.59
Producer Prices 100.03 points Aug/21 100.43 135.53 77.52
Export Prices 104.50 points Aug/21 104.00 240.64 89.70
Import Prices 103.90 points Aug/21 104.00 142.72 84.94
Food Inflation 1.50 percent Aug/21 1.10 60.30 -7.90
Producer Prices Change 17.00 percent Aug/21 17.10 29.27 -22.20
CPI Transportation 107.20 points Aug/21 107.39 108.21 20.52
CPI Housing Utilities 102.00 points Aug/21 100.17 114.81 26.55


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.