Inflation in Singapore

Singapore Inflation | Economic News & Forecasts

Singapore - Inflation

Consumer prices record largest decline since May 2016 in April

Consumer prices dropped 0.92% in April over the previous month, a sharper drop then March's 0.30% fall. April's result marked the sharpest fall in prices since April 2013. Behind the reading, were sharp drops in prices for transport, clothing and footwear, and recreation and culture goods.

Consumer prices dropped 0.7% year-on-year in April, contrasting March’s flat reading. April's reading marked the first drop in prices since October 2016 and was partly due to falling oil prices and prices for retail goods amid the Covid-19 pandemic. Accordingly, annual average inflation edged down to 0.4% in April (March: 0.5%). Lastly, the Monetary Authority of Singapore’s measure of core prices, which excludes accommodation and private road transport, fell 0.3% year-on-year in April, down from the prior month’s 0.2% drop.

FocusEconomics Consensus Forecast panelists expect consumer prices to fall 0.4% in 2020, which is unchanged from the previous month’s forecast. In 2021, our panel expects inflation of 0.9%.

Singapore - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)-0.5  -0.5  0.6  0.4  0.6  

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Singapore Inflation Chart

Singapore Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Singapore Department of Statistics and FocusEconomics calculations.

Singapore Facts

Value Change Date
Bond Yield1.741.39 %Dec 31
Exchange Rate1.34-0.01 %Jan 01

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