Singapore Inflation Rate

The inflation rate in Singapore was recorded at 0.40 percent in February of 2014. Inflation Rate in Singapore is reported by the Statistics Singapore. Inflation Rate in Singapore averaged 2.81 Percent from 1962 until 2014, reaching an all time high of 34 Percent in March of 1974 and a record low of -3.10 Percent in September of 1976. In Singapore, the most important categories in the consumer price index are housing (25 percent of total weight) and food (22 percent). The index also includes: transport (16 percent), education (7 percent), health (6 percent), communication (5 percent) and clothing and footwear (3 percent). Recreation, alcoholic beverages, tobacco and others account for the remaining 16 percent of total weight. This page provides - Singapore Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-18

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.40 1.40 34.00 -3.10 1.37 | 2014/03 1962 - 2014 Percent Monthly
2009=100

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Singapore Inflation Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-12-23 05:00 AM Singapore
Inflation Rate YoY
Nov 2013 2.6% 2.0% 2.1% 2.3%
2014-01-23 05:00 AM Singapore
Inflation Rate YoY
Dec 2013 1.5% 2.6% 2.2% 2.12%
2014-02-24 05:00 AM Singapore
Inflation Rate YoY
Jan 2014 1.4% 1.5% 1.62%
2014-03-24 05:00 AM Singapore
Inflation Rate YoY
Feb 2014 0.4% 1.4% 1.08%
2014-04-23 06:00 AM Singapore
Inflation Rate YoY
Mar 2014 0.4% 1.1% 1.37%
2014-05-23 06:00 AM Singapore
Inflation Rate YoY
Apr 2014 2.16%
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Prices Last Previous Highest Lowest Forecast Unit
Core Inflation Rate 1.60 2014-02-15 2.20 3.50 -1.40 1.75 2014-03-31 Percent [+]
Inflation Rate 0.40 2014-02-28 1.40 34.00 -3.10 1.37 2014-03-31 Percent [+]
Consumer Price Index (CPI) 116.98 2014-02-15 117.04 117.28 28.30 116.88 2014-03-31 Index Points [+]
Core Consumer Prices 114.46 2014-02-15 114.30 114.85 79.21 114.94 2014-03-31 Index Points [+]
Export Prices 97.06 2014-02-15 97.16 196.09 87.69 96.99 2014-03-31 Index Points [+]
GDP Deflator 114.27 2013-11-15 112.79 115.53 51.84 113.73 2014-03-31 Index Points [+]
Import Prices 97.85 2014-02-15 97.79 121.21 72.14 97.84 2014-03-31 Index Points [+]
Inflation Rate Mom -0.10 2014-02-28 0.10 4.74 -1.87 -0.13 2014-03-31 Percent [+]
Producer Prices 98.30 2014-02-15 98.26 121.20 69.32 98.24 2014-03-31 Index Points [+]
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Singapore Inflation Rate Slows to 4-Year Low

In February of 2014, Singapore’s annual inflation rate slowed sharply to 0.4 percent, the lowest level since January of 2010, due to a sharp drop in car prices which largely reflected a higher base in February last year.

Private road transport cost saw a sharper fall of 7.1 percent in February, after decreasing by 3.5 percent in January. This was mainly attributed to base effects arising from the surge in COE premiums in January 2013, as well as the dip in petrol pump prices.  

Food inflation was 2.3 percent, down from 3.0 percent a month earlier, due to the correction in non-cooked food prices after the Chinese New Year as well as the high base last year.

Services fees rose at a slower pace of 2.1 percent in February compared to 2.9 percent in the preceding month, led by a more moderate increase in the cost of household services.

Accommodation cost increased by 2.0 percent, lower than the 2.4 percent rise in January, as imputed rentals on owner-occupied accommodation (OOA) edged up more gradually.

Inflation as measured by CPI less imputed rentals on OOA came in at 0 percent in February, down from 1.2 percent a month earlier, given the decline in private road transport cost as well as the easing of food and services inflation. 

MAS Core Inflation, which excludes the costs of accommodation and private road transport, fell to 1.6 percent from 2.2 percent a month ago due to the lower contributions from costs of food and services.  

On a month-on-month basis, prices declined by 0.1 percent in February mainly due to seasonal factors.

Ministry of Trade and Industry | Joana Taborda | joana.taborda@tradingeconomics.com
3/24/2014 8:43:01 AM

RECENT RELEASES

Singapore Inflation Rate Decelerates in January
In January of 2014, Singapore’s annual inflation rate inched down to 1.4 percent from 1.5 percent in December last year, due to a more moderate increase in accommodation cost and a larger decline in private road transport cost. On a monthly basis, prices rose 0.1 percent. Published on 2014-02-24

Singapore Inflation Rate Slows to 8-Month Low in December
In December of 2013, Singapore annual inflation rate fell to 1.5 percent from 2.6 percent in the preceding month, mainly reflecting the decline in private road transport cost. Published on 2014-01-23


Inflation Rate | Notes
The data given on this page shows an annual change in the Consumer Price Index. The CPI measures changes in the price level of consumer goods and services purchased by households. The CPI is calculated by taking price changes for each item in the predetermined basket of goods and services and averaging them. The items weight according to their importance. Depending on the country, the highest weights are usually given to the food, energy, housing, clothing, medical care, transportation and household equipment.


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