The annual inflation rate in Singapore increased to 5.7% in April 2023, slightly up from March’s eleven-month low and market estimates of 5.5%. Main upward pressure came from higher inflation for transport (8.6% vs 6.2% in March), particularly private transport. In addition, prices accelerated for recreation & culture (7.6% vs 6.8%) and health care (4.2% vs 4%). Conversely, costs primarily slowed for food (7.1% vs 7.7%), housing & utilities (4.5% vs 5.2%), and household durables & services (1.9% vs 2.4%). Meanwhile, the annual core inflation rate was unchanged at 5%, remaining at its lowest since July 2022. On a monthly basis, the CPI rose 0.1%, the softest growth in six months. source: Statistics Singapore

Inflation Rate in Singapore averaged 2.58 percent from 1962 until 2023, 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 June of 2023.

Inflation Rate in Singapore is expected to be 4.50 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 3.50 percent in 2024 and 3.40 percent in 2025, according to our econometric models.

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Singapore Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-04-24 05:00 AM Mar 5.5% 6.3% 5.6% 5.9%
2023-05-23 05:00 AM Apr 5.7% 5.5% 5.5% 5.3%
2023-06-23 05:00 AM May 5.7%


Related Last Previous Unit Reference
Inflation Rate 5.70 5.50 percent Apr 2023
Inflation Rate MoM 0.10 0.50 percent Apr 2023
Consumer Price Index CPI 112.70 112.60 points Apr 2023
Core Inflation Rate 5.00 5.00 percent Apr 2023
Core Consumer Prices 114.02 113.23 points Apr 2023
GDP Deflator 121.85 121.45 points Mar 2023
Producer Prices 112.75 110.96 points Apr 2023
Export Prices 108.80 108.10 points Apr 2023
Import Prices 110.70 109.38 points Apr 2023
Food Inflation 7.10 7.70 percent Apr 2023
Producer Prices Change -11.40 -11.30 percent Apr 2023
CPI Transportation 133.90 131.76 points Apr 2023
CPI Housing Utilities 108.10 110.47 points Apr 2023

Singapore Inflation Rate
In Singapore, the most important categories in the Consumer Price Index are: Housing (25%) and Food (21%). The index also includes: Transport (17%); Recreation & Culture (8%); Education (7%); Healthcare (7%); Communications (4%); Clothing & Footwear (2%); Miscellaneous Goods & Services (5%); and Household Durables & Services (5%).
Actual Previous Highest Lowest Dates Unit Frequency
5.70 5.50 34.30 -3.10 1962 - 2023 percent Monthly
NSA

News Stream
Singapore Inflation Rate Edges Up to 5.7%
The annual inflation rate in Singapore increased to 5.7% in April 2023, slightly up from March’s eleven-month low and market estimates of 5.5%. Main upward pressure came from higher inflation for transport (8.6% vs 6.2% in March), particularly private transport. In addition, prices accelerated for recreation & culture (7.6% vs 6.8%) and health care (4.2% vs 4%). Conversely, costs primarily slowed for food (7.1% vs 7.7%), housing & utilities (4.5% vs 5.2%), and household durables & services (1.9% vs 2.4%). Meanwhile, the annual core inflation rate was unchanged at 5%, remaining at its lowest since July 2022. On a monthly basis, the CPI rose 0.1%, the softest growth in six months.
2023-05-23
Singapore Inflation Rate at 11-Month Low
Singapore's annual inflation rate fell to 5.5% in March 2023 from 6.3% in the prior month. It was the lowest reading since April 2022, slightly below market estimates of 5.6%, as food prices rose the least in three months (7.7% vs 8.1% in February). Also, cost slowed for transport (6.2% vs 9.7%), largely linked to private transport; housing (5.2% vs 5.3%), mainly accommodation; and clothing (6.3% vs 7.1%). Meanwhile, inflation was stable for household durables & services (at 2.7%), recreation & culture (at 6.9%), education (2.9%), and miscellaneous goods & services (2.6%). The country's annual core inflation rate eased to 5.0% in March, the lowest in eight months and down from 5.5% in the previous two periods, which marked the highest figure since November 2008. On a monthly basis, consumer prices increased by 0.5% in March, after a three-month record of 0.6% in February.
2023-04-24
Singapore Inflation Rate Lowest in 9 Months
Singapore’s annual inflation rate eased to 6.3% in February 2023 from 6.6% in the previous month and below market expectations of 6.45%. It was the smallest reading since May 2022 due to the slowdown in transport prices (9.7% vs 11.9% in January), primarily those of transport services. Additionally, inflation edged lower for housing & utilities (5.3% vs 5.4%), household durables & services (2.7% vs 2.8%), and education (2.9% vs 3%). Meanwhile, core consumer prices stood at 5.5%, the same as in January and at their highest level in 14 years. On a monthly basis, consumer prices accelerated by 0.6% after consolidating at 0.2% in the prior two periods.
2023-03-23