Inflation in Singapore
Singapore - Inflation
Inflation inches up in September
Consumer prices rose 0.42% in September over the previous month, moderating from August's 0.55% rise. September’s lower reading was mainly driven by a much softer rise in housing and utility costs compared with the previous month.
Inflation came in at 2.5% in September, up from August’s 2.4%. Annual average inflation rose to 1.4% in September (August: 1.1%). Lastly, core inflation ticked up to 2.7% in September, from the previous month's 2.6%.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.4% in 2022, which is unchanged from the previous month’s forecast. In 2023, our panel expects average inflation of 1.4%.
Singapore - Inflation Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | -0.5 | -0.5 | 0.6 | 0.4 | 0.6 |
Singapore Inflation Chart
Source: Singapore Department of Statistics and FocusEconomics calculations.
Singapore Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.74 | 1.39 % | Dec 31 |
| Exchange Rate | 1.34 | -0.01 % | Jan 01 |
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Economic News
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Singapore: Manufacturing and electronics PMIs remain in expansionary territory in October
November 5, 2021
The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for the manufacturing and electronics sectors both remained in expansionary terrain in October as they continued to recover well from the pandemic’s negative impact.
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Singapore: Inflation inches up in September
October 25, 2021
Consumer prices rose 0.42% in September over the previous month, moderating from August's 0.55% rise.
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Singapore: Non-oil domestic exports (NODX) growth increases in September
October 18, 2021
Non-oil domestic exports (NODX) grew 12.3% year-on-year in September, accelerating significantly from August’s 2.7% increase.
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Singapore: Economic growth slows in Q3
October 14, 2021
The economy expanded 6.5% year-on-year in the third quarter according to an advanced estimate, slowing notably from Q2’s 15.2% growth which had marked the fastest expansion since Q2 2010.
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Singapore: MAS tightens monetary policy in October
October 14, 2021
At its 14 October meeting, the Monetary Authority of Singapore (MAS) raised the slope of the Singapore dollar nominal effective exchange rate (S$NEER) policy band from 0.0% previously, thus allowing the dollar to appreciate “slightly” on an annual basis—widely believed to be 0.5% per annum—and effectively tightening its monetary stance.
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