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.