Singapore's annual inflation rate climbed to 7.5% in August 2022 from 7.0% in the prior month, topping market consensus of 7.2%. This was the fastest rise in consumer prices since June 2008, with food prices rising the most in near 14 years. Additional upward pressures also came from cost of housing (6.0% vs 5.9% in July), due to accommodation; transport (20.2% vs 19.0%), due to private transport; clothing (8.7% vs 6.6%); healthcare (2.7% vs 2.7%), led by outpatient services; recreation & culture (5.9% vs 4.9%), led by holiday expenses; and education (2.2% vs 2.2%). By contrast, cost of communication fell at a softer rate (-1.1% vs -1.3%). Core consumer prices rose by 5.1% yoy, the steepest rise since November 2008, above estimates of 5.0%. On a monthly basis, consumer prices went up 0.9%, picking up sharply from a 0.2% rise in July which was the least in three months. The government expects 2022 inflation to be between 4.5-5.5%, while core inflation to average between 2.5-3.5%. source: Statistics Singapore

Inflation Rate in Singapore averaged 2.54 percent from 1962 until 2022, 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 September of 2022.

Inflation Rate in Singapore is expected to be 7.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Inflation Rate is projected to trend around 4.50 percent in 2023 and 4.00 percent in 2024, according to our econometric models.

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Singapore Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-23 05:00 AM Jul 7.0% 6.7% 7% 7%
2022-09-23 05:00 AM Aug 7.5% 7% 7.2% 7.1%
2022-10-25 05:00 AM Sep 7.5% 7.7%


Related Last Previous Unit Reference
Inflation Rate 7.50 7.00 percent Aug 2022
Inflation Rate MoM 0.90 0.20 percent Aug 2022
Consumer Price Index CPI 109.86 108.84 points Aug 2022
Core Inflation Rate 5.10 4.80 percent Aug 2022
Core Consumer Prices 110.50 109.82 points Aug 2022
GDP Deflator 114.57 112.66 points Jun 2022
Producer Prices 123.40 129.30 points Jul 2022
Export Prices 124.20 126.97 points Jul 2022
Import Prices 119.37 124.93 points Jul 2022
Food Inflation 6.40 6.10 percent Aug 2022
CPI Housing Utilities 108.09 106.08 points Aug 2022
CPI Transportation 128.80 127.79 points Aug 2022
Producer Prices Change 19.00 27.90 percent Jul 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
7.50 7.00 34.30 -3.10 1962 - 2022 percent Monthly
NSA

News Stream
Singapore Inflation Rate Highest in Over 14 Years
Singapore's annual inflation rate climbed to 7.5% in August 2022 from 7.0% in the prior month, topping market consensus of 7.2%. This was the fastest rise in consumer prices since June 2008, with food prices rising the most in near 14 years. Additional upward pressures also came from cost of housing (6.0% vs 5.9% in July), due to accommodation; transport (20.2% vs 19.0%), due to private transport; clothing (8.7% vs 6.6%); healthcare (2.7% vs 2.7%), led by outpatient services; recreation & culture (5.9% vs 4.9%), led by holiday expenses; and education (2.2% vs 2.2%). By contrast, cost of communication fell at a softer rate (-1.1% vs -1.3%). Core consumer prices rose by 5.1% yoy, the steepest rise since November 2008, above estimates of 5.0%. On a monthly basis, consumer prices went up 0.9%, picking up sharply from a 0.2% rise in July which was the least in three months. The government expects 2022 inflation to be between 4.5-5.5%, while core inflation to average between 2.5-3.5%.
2022-09-23
Singapore Inflation Rate Highest in 14 Years
Singapore's annual inflation rate rose to 7.0% in July 2022 from 6.7% in the prior month, matching market consensus. This was the fastest rise in consumer prices since June 2008, with food prices up 6.1% yoy, the most since November 2008. Additional upward pressures also came from cost of clothing (6.6% vs 5.4% in July); housing (5.9% vs 5.5%), mostly due to utilities & other fuels; healthcare (2.7% vs 1.9%), led by outpatient services; transport (19.0% vs 18.8%), due to private transport; recreation & culture (4.9% vs 3.5%), led by holiday expenses; and education (2.2% vs 5.1%), driven by tuition & other fees. By contrast, cost of communication fell more (-1.3% vs -1.1%). Core consumer prices climbed 4.8% yoy, the most since November 2008, above estimates of 4.7%. On a monthly basis, consumer prices were up 0.2%, the least in 3 months, after a 1% gain in June. The government expects 2022 annual inflation to be between 4.5-5.5%, while core inflation to average between 2.5-3.5%.
2022-08-23
Singapore Inflation Rate at Over 13-1/2-Year High
Singapore's annual inflation rate increased to 6.7% in June 2022 from May of 5.6%, pointing to the highest level since September 2008, and beating market estimates of 6.2%. Main upward pressure came from cost of food (5.4% vs 4.5% in May); clothing (5.4% vs 2.2%); housing (5.5% vs 5.0%), mostly due to utilities & other fuels; healthcare (1.9% vs 1.3%), led by hospital services; transport (18.8% vs 15.5%), due to private transport; recreation & culture (3.5% vs 3.5%), led by holiday expenses and recreational & cultural services; and education (5.1% vs 2.4%), driven by tuition & other fees. By contrast, cost of communication fell more (-1.1% vs -0.8%). Core consumer prices climbed 4.4% yoy, the most since November 2008, and above market consensus of 4.2%. On a monthly basis, consumer prices were up 1.0% in June, the same as in May. The government expects 2022 annual inflation to be between 4.5-5.5%, while core inflation to average between 2.5-3.5%.
2022-07-25