Singapore's annual inflation rate slowed to a 7-month low of 0.3 percent in November 2018 from 0.7 percent in the previous month and less than market consensus of 0.6 percent. Food inflation remained at its lowest in five months, while cost of transport fell further. On a month-on-month basis, consumer prices went up 0.2 percent, after a 0.3 percent fall in October and marking the highest reading in three months. Inflation Rate in Singapore averaged 2.59 percent from 1962 until 2018, reaching an all time high of 34 percent in March of 1974 and a record low of -3.10 percent in September of 1976.

Inflation Rate in Singapore is expected to be 1.00 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 1.50 in 12 months time. In the long-term, the Singapore Inflation Rate is projected to trend around 2.20 percent in 2020, according to our econometric models.

Singapore Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-24 05:00 AM Inflation Rate YoY 0.7% 0.6% 0.7% 0.6%
2018-10-23 05:00 AM Inflation Rate YoY 0.7% 0.7% 0.8% 0.7%
2018-11-23 05:00 AM Inflation Rate YoY 0.7% 0.7% 0.8% 0.8%
2018-12-24 05:00 AM Inflation Rate YoY 0.3% 0.7% 0.6% 0.7%
2019-01-23 05:00 AM Inflation Rate YoY 0.3% 0.4% 0.5%
2019-02-25 05:00 AM Inflation Rate YoY
2019-03-25 05:00 AM Inflation Rate YoY



Singapore Inflation Rate at 7-Month Low of 0.3% in November

Singapore's annual inflation rate slowed to a 7-month low of 0.3 percent in November 2018 from 0.7 percent in the previous month and below market consensus of 0.6 percent. Food inflation remained at its lowest in five months, while cost of transport fell further.

In November, food inflation came in at 1.4 percent, unchanged from the previous month and remaining at its lowest since May. Among food excluding food servicing services, cost continued to rise for: bread & cereals (1.6 percent vs 1.8 percent in October); fish & seafood (2.4 percent vs 2.6 percent); milk, cheese & eggs (2 percent vs 1.8 percent); oils & fats (4.3 percent vs 2.7 percent); fruits (3.2 percent vs 2.8 percent), while was flat for vegetables (vs -1.6 percent in October), and declined for meat (-0.5 percent vs -0.4 percent); and sugar, preserves & confectionery (-1.4 percent vs 1.6 percent). Among food servicing services, inflation was stable for restaurant food (at 1.8 percent); hawker food including food courts (at 1.5 percent); and catered (at 0.9 percent), while eased for fast food (0.1 percent vs 0.2 percent).

At the same time, cost eased for housing & utilities (a flat reading vs -0.2 percent in October), driven by accommodation (-2.1 percent vs -2.5 percent) and fuel & utilities (14.2 percent vs 15.1 percent); clothing & footwear (0.8 percent vs 1.2 percent in October); household durables & services (0.7 percent vs 0.9 percent); healthcare (1.6 percent vs 1.8 percent); and recreation & culture (0.9 percent vs 1.0 percent). Also, cost fell further for transport (-2.8 percent vs -0.5 percent), mainly due to private road transport (-3.6 percent vs -0.6 percent); and communication (-3 percent vs -1.2 percent). In contrast, inflation was steady for education (at 3.2 percent), and increased markedly for miscellaneous goods & services (1.4 percent vs 1.1 percent), largely due to personal care (0.8 percent vs 0.3 percent) and alcoholic drinks & tobacco (5.8 percent vs 6.1 percent). 

Annual core inflation, which exclude costs of accommodation and private road transport, fell to 1.7 percent in November 2018 from 1.9 percent in October and lower than market expectations of 1.9 percent. It was the lowest figure since June.

On a month-on-month basis, consumer prices went up 0.2 percent, after a 0.3 percent fall in October and marking the highest reading in three months.



Statistics Singapore l Rida | rida@tradingeconomics.com
12/26/2018 12:42:59 PM



Singapore Prices Last Previous Highest Lowest Unit
Inflation Rate 0.30 0.70 34.00 -3.10 percent [+]
Inflation Rate Mom 0.20 -0.30 4.74 -1.87 percent [+]
Consumer Price Index CPI 100.10 99.90 100.30 24.17 Index Points [+]
Core Consumer Prices 105.00 105.20 105.20 63.85 Index Points [+]
Core Inflation Rate 1.70 1.90 3.50 -1.40 percent [+]
GDP Deflator 106.03 105.59 107.74 46.64 Index Points [+]
Producer Prices 85.20 89.70 114.45 65.46 Index Points [+]
Export Prices 90.00 92.50 213.89 81.70 Index Points [+]
Import Prices 87.30 90.80 123.84 73.71 Index Points [+]
Food Inflation 1.40 1.40 15.62 -7.71 percent [+]
Producer Prices Change 5.10 12.70 29.27 -22.20 percent [+]
CPI Housing Utilities 89.60 88.20 101.14 23.39 Index Points [+]
CPI Transportation 97.30 98.00 107.06 20.22 Index Points [+]


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. This page provides - Singapore Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore Inflation Rate - actual data, historical chart and calendar of releases - was last updated on January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.30 0.70 34.00 -3.10 1962 - 2018 percent Monthly
2014=100




Country Last Previous
Argentina 47.10 Dec/18
Australia 1.90 Sep/18
Brazil 3.75 Dec/18
Canada 2.00 Dec/18
China 1.90 Dec/18
Euro Area 1.60 Dec/18
France 1.60 Dec/18
Germany 1.70 Dec/18
India 2.19 Dec/18
Indonesia 3.13 Dec/18
Italy 1.10 Dec/18
Japan 0.30 Dec/18
Mexico 4.83 Dec/18
Netherlands 2.00 Dec/18
Russia 4.30 Dec/18
Saudi Arabia 2.80 Nov/18
Singapore 0.30 Nov/18
South Africa 5.20 Nov/18
South Korea 1.30 Dec/18
Spain 1.20 Dec/18
Switzerland 0.70 Dec/18
Turkey 20.30 Dec/18
United Kingdom 2.10 Dec/18
United States 1.90 Dec/18


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