Singapore Inflation March 2022


Singapore: Inflation comes in at highest level since April 2012 in March

April 28, 2022

Consumer prices increased 1.25% in March over the previous month, picking up from the 0.87% increase seen in February. March's figure was the highest reading since July 2011.

Inflation came in at 5.4% in March, which was up from February’s 4.3%. March's figure represented the highest inflation rate since April 2012. Annual average inflation rose to 3.3% in March (February: 2.9%). Finally, core inflation rose to 5.9% in March, from the previous month's 4.8%.

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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