Singapore Inflation May 2021


Singapore: Inflation comes in at highest level since November 2013 in May

June 23, 2021

Consumer prices increased 0.80% in May over the previous month, swinging from April's 0.17% drop. May's uptick marked the sharpest increase in prices since August 2013 and was primarily driven by a sharp rebound in housing prices.

Inflation edged up to 2.4% in May, following April’s 2.1%. May's reading was the highest inflation rate since November 2013 and was in part aided by a healthy base effect on the back of May 2020’s sharp decline in prices. Annual average inflation rose to 0.4% in May (April: 0.1%), while core inflation rose to 0.8% in May, from the previous month's 0.6%.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.3% in 2021, which is up 0.1 percentage points from the previous month’s forecast. In 2022, our panel expects average inflation of 1.3%.

Author:, Economist

Sample Report

Looking for forecasts related to Inflation in Singapore? Download a sample report now.


Singapore Inflation Chart

Singapore Inflation May 2021

Note: Annual and monthly variation of consumer price index in %.
Source: Statistics Singapore (Singstat).

Singapore Economic News

More news

Search form