Latest reading: Consumer prices were up 1.7% in annual terms in June, following a 1.5% increase in the previous 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 is stable in May
Latest reading: Consumer prices increased 1.8% in annual terms in May, stable from the previous month's reading. May's reading was the joint strongest since September 2024. Relative to the prior month's data, there were higher price pressures for food (+1.8% on a year-on-year basis vs +1.6% in April) and transport (+7.4% vs +7.0% in April). Finally, the variation in housing and utilities prices was the same as in the prior month (+0.2% in May and April). Meanwhile, core consumer prices rose 1.4% in annual terms in May, stable from the previous month's reading. Finally, consumer prices rose 0.75% in May in month-on-month terms, following a 0.34% decline in the previous 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.
Latest Global Inflation News
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Japan: Inflation accelerates in June from the prior month -
Hong Kong: Inflation decelerates in June from the prior month Latest reading: Consumer prices increased 1.9% on a year-on-year basis in June, following a 2.0% rise in the previous month.... -
Canada: Inflation ebbs in June from May Latest reading: Consumer prices were up 2.8% in annual terms in June, following a 3.2% rise in the previous month.... -
Greece: Inflation eases in June from the prior month Latest reading: Harmonized consumer prices were up 3.9% in annual terms in June, following a 4.9% rise in the previous... -
Latvia: Inflation eases in June from May Latest reading: Harmonized inflation fell to 3.3% on a year-on-year basis in June, following 3.5% in the prior month. Relative... -
Netherlands: Inflation slows in June from the prior month Latest reading: Harmonized consumer prices rose 2.5% in annual terms in June, following a 3.4% increase in the previous month.... -
Lithuania: Inflation picks up in June from May Latest reading: Harmonized inflation rose to 5.4% in annual terms in June, following 5.1% in the previous month. June’s reading...