Latest reading: Consumer prices rose 4.6% on a year-on-year basis in August, following a 4.3% rise in the prior month....
Inflation in Singapore
Consumer price inflation in Singapore averaged 1.6% in the ten years to 2024, in line with the ASEAN regional average of 3.0%. The 2024 average figure was 2.4%. For more information on inflation, visit our dedicated page.
Singapore Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Singapore from 2014 to 2025.
Source: Macrobond.
Singapore Inflation Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.3 | 6.1 | 4.8 | 2.4 | 0.9 |
| Inflation (CPI, ann. var. %, eop) | 4.0 | 6.5 | 3.8 | 1.5 | 1.2 |
| Inflation (Core, ann. var. %, eop) | 2.1 | 5.1 | 3.3 | 1.7 | 1.2 |
| Inflation (DSPI, ann. var. %, aop) | 15.2 | 18.6 | -6.7 | -1.3 | 1.0 |
Inflation accelerates in June from May
Latest reading: Consumer prices rose 1.9% on a year-on-year basis in June, following a 1.8% rise in the previous month. June's reading was the strongest since August 2024. Relative to the prior month's data, there were higher price pressures for food (+2.1% in annual terms vs +1.8% in May), housing and utilities (+0.3% vs +0.2% in May) and transport (+7.5% vs +7.4% in May). Meanwhile, core consumer prices were up 1.6% on a year-on-year basis in June, following a 1.4% rise in the previous month. Lastly, consumer prices increased 0.04% in June in month-on-month terms, following a 0.75% rise in the prior month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Singapore inflation projections for the next ten years from a panel of 29 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Singapore inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Singapore inflation projections.
Want to get access to the full dataset of Singapore inflation forecasts? Send an email to info@focus-economics.com.
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