Singapore's annual inflation rate jumped to 1.3% in March 2021 from 0.7% a month earlier and roughly in line with the market consensus of 1.25%. This was the highest reading since May 2017, amid strengthening consumption in the wake of the coronavirus pandemic. Main upward pressure came from food (1.4% vs 1.6% in February), transport (5.7% vs 3.1%), health (1% vs -0.2%), and recreation & culture (0.3% vs 0.1%). On the other hand, there were falls in cost of both clothing & footwear (-4.8% vs -6.3%), and miscellaneous goods & services (-1.1% vs -1.4%). Core consumer prices, which exclude accommodation and private road transport costs, increased by 0.5% from a year earlier, the highest since December 2019, after a 0.2% rise in February and above forecasts of a 0.1% rise. On a monthly basis, consumer prices rose by 0.2% in March, after a 0.6% gain in February. 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 May of 2021.
Inflation Rate in Singapore is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Singapore to stand at 1.10 in 12 months time. In the long-term, the Singapore Inflation Rate is projected to trend around 1.50 percent in 2022, according to our econometric models.