Singapore Inflation Rate  1962-2016 | Data | Chart | Calendar | Forecast

Singapore consumer prices declined by 0.7 percent year-on-year in July of 2016, the same pace as in June while market estimated a 0.5 percent fall. It was the 21st straight month of decrease as cost of housing & utilities and transport dropped further while prices of food were steady. Core inflation, which excludes costs of accommodation and private road transport, rose 1.0 percent year-on-year from 1.1 percent in June and in line with expectations. On a month-on-month basis, consumer prices dropped by 0.3 percent, compared to a 0.7 percent increase in June. Inflation Rate in Singapore averaged 2.68 percent from 1962 until 2016, reaching an all time high of 34 percent in March of 1974 and a record low of -3.10 percent in September of 1976. Inflation Rate in Singapore is reported by the Statistics Singapore.

Singapore Inflation Rate
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Actual Previous Highest Lowest Dates Unit Frequency
-0.70 -0.70 34.00 -3.10 1962 - 2016 percent Monthly
2009=100
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. Singapore Inflation Rate - actual data, historical chart and calendar of releases - was last updated on August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-06-23 05:00 AM May -1.6% -0.5% -0.8% -0.44%
2016-07-25 05:00 AM Jun -0.7% -1.6% -1.1% -1.7%
2016-08-23 05:00 AM Jul -0.7% -0.7% -0.5% -0.5%
2016-09-23 05:00 AM Aug -0.7% -0.5%
2016-10-23 05:00 AM Sep -0.35%
2016-11-23 05:00 AM Oct -0.2%

Singapore CPI Drops More than Expected in July


Singapore consumer prices declined by 0.7 percent year-on-year in July of 2016, the same pace as in June while market estimated a 0.5 percent fall. It was the 21st straight month of decrease as cost of housing & utilities and transport dropped further while prices of food were steady.

Year-on-year, downward prices pressure came from: clothing & footwear (-1.8 percent from +0.2 percent in June), housing & utilities (-4.3 percent in from -4.2 percent, largely due to a 8.9 percent drop in fuel & utilities and a 3.6 percent fall in accommodation) and transport (-3.5 percent from -4.3 percent, due to a 4.4 percent decline in private road transport, a 1.8 percent fall in other travel & transport and a 0.8 percent drop in public road transport). In contrast, upward prices pressure came from household durables & services (+3.2 percent from +3.4 percent, due to a 0.6 percent rise in household durables and a 4.8 percent increase in household services & supplies), health care (+0.4 percent from +0.7 percent,  due to a 0.7 percent rise in medical & dental treatment and a 0.7 percent drop in medical products, appliances & equipment), communication (+0.9 percent from +0.4 percent), recreation & culture (+1.2 percent from +1.6 percent, due to a 6.3 percent increase in newspapers, book & stationery, a 1.2 percent in holiday expenses and a 0.4 percent rise in recreation & entertainment), education (+3.6 percent from +3.2 percent, due to a 3.7 percent rise in tuition & other fees and a 0.3 percent increase in school textbooks & related study guides) and miscellaneous goods & services (+0.2 percent from +0.5 percent, due to a 0.4 percent rise in personal effects and a 0.8 percent rise in personal care).

Prices of food rose 2.1 percent in July,  the same as in a month earlier. Among food, cost of food excluding food servicing services increased by 2.8 percent, following a 2.6 percent rise in the preceding month while food servicing services rose 1.8 percent, unchanged from the June figure. Among food excluding food servicing services, cost increased for bread & cereals (+1.1 percent), meat (+2.9 percent); fish & seafood (+5.2 percent); fruits (+2.9 percent); milk, cheese & eggs (+1.8 percent), vegetables (+5.5 percent); sugar, preserves & confectionery (+2.8 percent), non-alcoholic beverages (+0.1 percent) and other food (+1.6 percent). In contrast, prices declined by 2.9 percent for oils & fats (-2.9 percent). Among food servicing services, prices increased for all categories: restaurant foods (+1.7 percent), fast food (+3.0 percent), hawker food including food courts (+1.8 percent) and catered food (+0.8 percent).

Core inflation, which excludes costs of accommodation and private road transport, rose 1.0 percent year-on-year from 1.1 percent in June and in line with expectations.

On a month-on-month basis, consumer prices dropped by 0.3 percent, compared to a 0.7 percent increase in June. Cost went down for: clothing & footwear (-0.7 percent), housing & utilities (-1.3 percent), household durables & services (-0.1 percent), transport (-0.1 percent) and recration & culture (-0.5 percent). In contrast, prices rose for: food (+0.1 percent), health care (+0.3 percent) and education (+1.0 percent). Prices remained unchanged for: communication and miscellaneous goods & services.

Statistics Singapore l Rida Husna | rida@tradingeconomics.com
8/23/2016 6:48:00 AM



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