Singapore's annual inflation rate inched lower to 0.4 percent in January of 2019 from 0.5 percent in December and below market expectations of 0.6 percent, as prices slowed significantly for electricity & gas. Meantime, food inflation remained at its lowest in five months. On month-on-month basis, consumer prices declined 0.3 percent in January, compared to a 0.1 percent rise in December and marking the first monthly fall in three months. Inflation Rate in Singapore averaged 2.58 percent from 1962 until 2019, 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 0.60 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 1.20 in 12 months time. In the long-term, the Singapore Inflation Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.

Singapore Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
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 0.5% 0.3% 0.4% 0.5%
2019-02-25 05:00 AM Inflation Rate YoY 0.4% 0.5% 0.6% 0.7%
2019-03-25 05:00 AM Inflation Rate YoY 0.4% 0.5%
2019-04-23 05:00 AM Inflation Rate YoY 0.6%
2019-05-23 05:00 AM Inflation Rate YoY



Singapore Inflation Rate Below Estimates in January

Singapore's annual inflation rate inched lower to 0.4 percent in January of 2019 from 0.5 percent in December and below market expectations of 0.6 percent, as prices slowed significantly for electricity and gas. Meantime, food inflation remained at its lowest in five months.

Year-on-year, cost fell for housing & utilities (-0.5 percent vs 0.1 percent in December), amid a drop in prices of accommodation (-1.9 percent, the same pace as December) and a slowdown in those of electricity & gas (6.5 percent vs 14.6 percent), reflecting a downward revision in electricity tariffs due to lower oil prices in the preceding months, as well as the effect of the phased nationwide launch of the Open Electricity Market (OEM) on electricity prices. In addition, prices fell for transport (-1.8 percent vs -2.6 percent), namely private road transport (-3.4 percent vs -3.7 percent); and communications (-2.9 percent vs -2.7 percent).

Meantime, cost slowed for: clothing & footwear (2.5 percent vs 2.6 percent); household durables & services (0.7 percent vs 0.8 percent); and recreation & culture (0.9 percent vs 1.7 percent). Also, inflation was steady for education (at 3.2 percent); miscellaneous goods & services (at 1.4 percent) and food & non-alcoholic beverages (at 1.4 percent), which stood at its lowest level in five months, as cost increases for both non-cooked food items and prepared meals remained almost the same. On the other hand, prices rose further for healthcare (1.7 percent vs 1.6 percent).

Annual core inflation, which exclude costs of accommodation and private road transport, edged down to 1.7 percent in January from 1.9 percent in December, missing market expectations of 1.9 percent.

On a month-on-month basis, consumer prices declined 0.3 percent in January, compared to a 0.1 percent rise in December and marking the first monthly fall in three months.

In a joint release, the Singapore's central bank and trade ministry revised down 2019 inflation forecast to between 0.5 percent to 1.5 percent from an earlier estimate of 1 percent to 2 percent, reflecting a sharp decline in global oil prices.


Statistics Singapore l Rida Husna | rida@tradingeconomics.com
2/25/2019 12:46:07 PM



Singapore Prices Last Previous Highest Lowest Unit
Inflation Rate 0.40 0.50 34.00 -3.10 percent [+]
Inflation Rate Mom -0.30 0.10 4.74 -1.87 percent [+]
Consumer Price Index CPI 99.90 100.20 100.30 24.17 Index Points [+]
Core Consumer Prices 104.10 104.00 105.20 63.85 Index Points [+]
Core Inflation Rate 1.70 1.90 3.50 -1.40 percent [+]
GDP Deflator 111.74 109.71 111.74 46.64 Index Points [+]
Producer Prices 80.20 80.60 114.45 65.46 Index Points [+]
Export Prices 97.20 98.10 213.89 81.70 Index Points [+]
Import Prices 98.40 99.30 123.84 73.71 Index Points [+]
Food Inflation 1.40 1.40 15.62 -7.71 percent [+]
Producer Prices Change -1.90 -0.40 29.27 -22.20 percent [+]
CPI Housing Utilities 87.90 89.50 101.14 23.39 Index Points [+]
CPI Transportation 97.40 97.10 107.06 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 March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.50 34.00 -3.10 1962 - 2019 percent Monthly
2014=100




Country Last Previous
Argentina 50.70 Feb/19
Australia 1.80 Dec/18
Brazil 3.89 Feb/19
Canada 1.40 Jan/19
China 1.50 Feb/19
Euro Area 1.50 Feb/19
France 1.30 Feb/19
Germany 1.50 Feb/19
India 2.57 Feb/19
Indonesia 2.57 Feb/19
Italy 1.00 Feb/19
Japan 0.20 Jan/19
Mexico 3.94 Feb/19
Netherlands 2.60 Feb/19
Russia 5.20 Feb/19
Saudi Arabia -2.20 Feb/19
Singapore 0.40 Jan/19
South Africa 4.10 Feb/19
South Korea 0.50 Feb/19
Spain 1.10 Feb/19
Switzerland 0.60 Feb/19
Turkey 19.67 Feb/19
United Kingdom 1.90 Feb/19
United States 1.50 Feb/19


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