Singapore Inflation August 2022

Singapore

Singapore: Inflation accelerates in August

October 14, 2022

Inflation came in at 7.5% in August, up from July’s 7.0%. July's figure marked the highest inflation rate since June 2008. Meanwhile, the trend pointed up, with annual average inflation coming in at 5.0% in August (July: 4.5%).

Meanwhile, consumer prices rose 0.94% in August over the previous month, following the 0.15% increase logged in July.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.4% in 2022, which is up 0.6 percentage points from the previous month’s forecast. In 2023, our panel expects average inflation of 2.1%.


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