Consumer prices in Singapore dropped 0.5 percent year-on-year in June 2020, after falling 0.8 percent in May and compared with market consensus of a 0.55 percent decline. It was the third straight month of deflation, but the lowest in current sequence, as cost fell less for transport (-3.1% vs -4.8% in May); clothing & footwear (-3.2% vs -4.4%); and health (-1.7 vs -1.9%). In addition, prices rose further for both food (2.3% vs 2.2%) and housing & utilities (0.2%vs 0.1%) while cost of furnishings were unchanged (vs -0.4% in May). On the other hand, prices decreased at a faster pace for miscellaneous goods & services (-1.9% vs -1.4%) and recreation & culture (-2.9% vs -2%). Core consumer prices, which excludes accommodation and private road transport costs, fell 0.2% over a year earlier, the same pace as in May, and matching expectations. On a monthly basis, consumer prices were flat in June, after a 0.5% gain in May.
Inflation Rate in Singapore averaged 2.53 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 August of 2020. source: Statistics Singapore
Inflation Rate in Singapore is expected to be 1.10 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 1.90 in 12 months time. In the long-term, the Singapore Inflation Rate is projected to trend around 2.00 percent in 2021 and 1.90 percent in 2022, according to our econometric models.