Consumer prices in Singapore unexpectedly declined by 0.2 percent year-on-year in October 2020, compared to market consensus of a flat reading and after being flat a month earlier. There were rises in prices of food (1.7% vs 1.8% in September). Meantime, cost fell for: housing & utilities (-0.3% vs -0.7%), transport (-0.6% vs 0.5%), clothing & footwear (-4.3% vs -4.6%), health (-2.0% vs -2.0%), recreation & culture (-1.7% vs -1.2%), and miscellaneous goods & services (-1.3% vs -1.4%). Core consumer prices, which excludes accommodation and private road transport costs, dropped by 0.2% from a year earlier, after a 0.1% fall in September and compared with forecasts of a 0.1% decline. On a monthly basis, consumer prices went down by 0.4%, reversing from a 0.3% rise in September. source: Statistics Singapore

Inflation Rate in Singapore averaged 2.51 percent from 1962 until 2020, 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 November of 2020.

Inflation Rate in Singapore is expected to be 0.10 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 0.70 in 12 months time. In the long-term, the Singapore Inflation Rate is projected to trend around 1.20 percent in 2021 and 1.90 percent in 2022, according to our econometric models.

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Singapore Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.20 0.00 34.30 -3.10 1962 - 2020 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-08-24 05:00 AM Jul -0.4% -0.5% -0.65% -0.6%
2020-09-23 05:00 AM Aug -0.4% -0.4% -0.5% -0.7%
2020-10-23 05:00 AM Sep 0.0% -0.4% -0.25% -0.2%
2020-11-23 05:00 AM Oct -0.2% 0% 0% 0.1%
2020-12-23 05:00 AM Nov -0.2% 0.2%
2021-01-23 05:00 AM Dec
2021-02-24 05:00 AM Jan
2021-03-23 05:00 AM Feb


News Stream
Singapore Consumer Prices Unexpectedly Fall in October
Consumer prices in Singapore unexpectedly declined by 0.2 percent year-on-year in October 2020, compared to market consensus of a flat reading and after being flat a month earlier. There were rises in prices of food (1.7% vs 1.8% in September). Meantime, cost fell for: housing & utilities (-0.3% vs -0.7%), transport (-0.6% vs 0.5%), clothing & footwear (-4.3% vs -4.6%), health (-2.0% vs -2.0%), recreation & culture (-1.7% vs -1.2%), and miscellaneous goods & services (-1.3% vs -1.4%). Core consumer prices, which excludes accommodation and private road transport costs, dropped by 0.2% from a year earlier, after a 0.1% fall in September and compared with forecasts of a 0.1% decline. On a monthly basis, consumer prices went down by 0.4%, reversing from a 0.3% rise in September.
2020-11-23
Singapore Consumer Prices Unexpectedly Flat
Consumer prices in Singapore unexpectedly was flat on the year in September 2020, compared to market consensus of a 0.25% fall and after a 0.4 percent drop a month earlier. There were rises in prices of both food (1.8% vs 1.8% in August) and transport (0.5% vs -1.5%). Meantime, cost fell further for: housing & utilities (-0.7%vs -0.7%), clothing & footwear (-4.6% vs -3.3%), health (-2.0% vs -1.9%), recreation & culture (-1.2% vs -1.3%), and miscellaneous goods & services (-1.4% vs -1.9%). Core consumer prices, which excludes accommodation and private road transport costs, fell by 0.1% from a year earlier, after a 0.3% drop in August and compared with forecasts of a 0.s% drop. On a monthly basis, consumer prices rose by 0.3%, slowing from a 0.6% gain in August.
2020-10-23
Singapore Consumer Prices Drop Less than Estimated
Consumer prices in Singapore fell by 0.4% year-on-year in August 2020, the fifth straight month of drop, after a 0.4% decline in July and compared with market consensus of a 0.5% decline. It remained the softest figure in the current sequence of deflation, as cost continued to fall for most categories: housing & utilities (-0.7%vs -0.8% in July), clothing & footwear (-3.3% vs -4.1%), health (-1.9% vs -1.9%), transport (-1.5% vs -1.4%), recreation & culture (-1.3% vs -2.3%), and miscellaneous goods & services (-1.9% vs -1.7%). At the same time, food prices rose by 1.8%, the least in 5 months, after a 2.2% in July. Core consumer prices, which excludes accommodation and private road transport costs, decreased by 0.3% from a year earlier, compared with forecasts and the previous month figure of a 0.4% drop. On a monthly basis, consumer prices rose by 0.6%, the most in a year, and following a 0.3% fall in July.
2020-09-23
Singapore Consumer Prices Drop Less than Estimated
Consumer prices in Singapore fell by 0.4% year-on-year in July 2020, after a 0.5% drop in June and compared with market consensus of a 0.65% decline. It was the fourth consecutive decline in consumer prices, but the weakest in the current sequence of deflation, as cost fell less for transport (-1.4% vs -3.1% in June); miscellaneous goods & services (-1.7% vs -1.9%); and recreation & culture (-2.3% vs -2.9%). Meanwhile, prices dropped further for housing & utilities (-0.8%vs 0.2%); clothing & footwear (-4.1% vs -3.2%); and health (-1.9 vs -1.7%). Additionally, cost of food slowed (2.2% vs 2.3%). Core consumer prices, which excludes accommodation and private road transport costs, declined by 0.4% over a year earlier, the most since January 2010, after a 0.2% fall and above forecasts of a 0.3% decrease. On a monthly basis, consumer prices declined by 0.3%, following a flat reading in June.
2020-08-24

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.