Latest reading: Harmonized inflation came in at 3.0% in May, down from April’s 3.6%. May’s figure represented the weakest inflation...
Inflation in Singapore
In the year 2024, the inflation in Singapore was 2.39%, compared to 1.03% in 2014 and 4.83% in 2023. It averaged 1.55% over the last decade. 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 2024.
Source: Macrobond.
Singapore Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | -0.2 | 2.3 | 6.1 | 4.8 | 2.4 |
| Inflation (CPI, ann. var. %, eop) | 0.0 | 4.0 | 6.5 | 3.8 | 1.5 |
| Inflation (Core, ann. var. %, eop) | -0.3 | 2.1 | 5.1 | 3.3 | 1.7 |
| Inflation (DSPI, ann. var. %, aop) | -8.7 | 15.2 | 18.6 | -6.7 | -1.3 |
Inflation remains at March’s level in April
Latest reading: Inflation came in at 0.9% in April, matching March’s reading. April's figure represented the join-weakest inflation rate since February 2021. Looking at the details of the release, softer price pressures for housing and utilities offset a stronger rise in food costs. The trend pointed down, with annual average inflation falling to 1.7% in April (March: 1.8%). Meanwhile, core inflation rose to 0.7% in April from the previous month's 0.5%. Finally, consumer prices dropped 0.31% in April over the previous month, a sharper drop than March's 0.08% fall. April's result marked the weakest reading since January.
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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Lithuania: Harmonized inflation dips in May -
Netherlands: Harmonized inflation falls in May Latest reading: Harmonized inflation came in at 2.9% in May, which was down from April’s 4.1%. May’s reading represented the... -
Estonia: Harmonized inflation rises in May Latest reading: Harmonized inflation increased to 4.6% in May, following April’s 4.4%. The reading was driven by stronger price pressures... -
Austria: Harmonized inflation falls to lowest level since December 2024 in May Latest reading: Harmonized inflation came in at 3.0% in May, down from April’s 3.3%. May’s reading represented the lowest inflation... -
Belgium: Harmonized inflation eases in May Latest reading: Harmonized inflation dropped to 2.8% in May, from April’s 3.1%. May’s figure marked the lowest inflation rate since... -
Latvia: Harmonized inflation decreases in May Latest reading: Harmonized inflation edged down to 3.7% in May, from April’s 4.0%, largely due to the sharpest fall in... -
South Africa: Inflation remains unchanged, below target as expected in May Latest reading: Inflation was stable at April’s 2.8% in May, in line with market expectations. Inflation thus remained below the...