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.