Singapore Inflation April 2022

Singapore

Singapore: Inflation holds stable in April

May 30, 2022

Consumer prices fell 0.13% in April over the previous month, contrasting the 1.25% rise logged in March. April's result marked the weakest reading since July 2021. The decline was broad-based, with reduced price pressures recorded for food, housing and utilities, and transport.

Inflation came in at 5.4% in April, matching March’s result. April's figure marked the highest inflation rate since April 2012. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 3.5% in April (March: 3.3%). Lastly, core inflation rose to 3.3% in April, from March’s 2.9%.

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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