Inflation in Singapore
Singapore - Inflation
Inflation accelerates in May
Consumer prices jumped 0.99% in May over the previous month, contrasting the 0.14% dip logged in April. May's increase came amid higher price pressures for housing and utilities and transport.
Inflation came in at 5.6% in May, up from April’s 5.4%. May's figure marked the highest inflation rate since November 2011. Meanwhile, the trend pointed up, with annual average inflation coming in at 3.8% in May (April: 3.5%). Lastly, core inflation rose to 3.6% in May, from April’s 3.3%.
Commenting on the release, Nicholas Mapa, senior economist at ING, stated:
“Elevated price pressures are likely to persist into Q3 and should keep MAS on notice for the rest of the year. MAS moved deliberately at the onset of the price spike, delivering several tightening measures highlighted by an aggressive adjustment in Q1. Energy and food prices could very well stay pricey given current indications as countries resort to protectionist policies at the expense of global supply. If prices stay elevated by mid-Q3, we are not counting out the possibility of additional tightening from MAS in October. “
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%.
Singapore - Inflation Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | -0.5 | -0.5 | 0.6 | 0.4 | 0.6 |
Singapore Inflation Chart
Source: Singapore Department of Statistics and FocusEconomics calculations.
Singapore Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.74 | 1.39 % | Dec 31 |
| Exchange Rate | 1.34 | -0.01 % | Jan 01 |
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Economic News
-
Singapore: Inflation accelerates in May
June 23, 2022
Consumer prices jumped 0.99% in May over the previous month, contrasting the 0.14% dip logged in April.
-
Singapore: Non-oil domestic exports (NODX) expand at faster pace in May
June 17, 2022
Non-oil domestic exports (NODX) rose 12.4% in annual terms in May, following April’s 6.4% upturn.
-
Singapore: Manufacturing PMI increases while electronics PMI decreases in May
June 7, 2022
The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for the manufacturing sector rose in May, while the electronics PMI dipped in the same month.
-
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.
-
Singapore: Non-oil domestic exports (NODX) gain steam in April
May 18, 2022
Non-oil domestic exports (NODX) jumped 13.7% in annual terms in April, following March’s 11.9% upturn.
© Copyright: 2022. | Singapore Inflation | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
