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
| 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 is unchanged in November from October
Latest reading: Consumer prices were up 1.2% on a year-on-year basis in November, stable from the prior month's reading. Relative to the previous month's data, there were higher price pressures for healthcare (+4.4% in annual terms in November vs +4.0% in October). In contrast, there were milder price pressures for housing and utilities (+0.2% vs +0.3% in October) and transport (+3.2% vs +3.4% in October). Finally, the change in food prices was the same as in the prior month (+1.2% in November and October). Meanwhile, core consumer prices rose 1.2% on a year-on-year basis in November, unchanged from the previous month's reading. Lastly, consumer prices rose 0.25% in November on a month-on-month basis, following a 0.01% increase in the prior month.
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 30 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
-
Australia: Inflation picks up in December from November Latest reading: Consumer prices increased 3.7% on a year-on-year basis in December, following a 3.5% increase in the prior month... -
New Zealand: Inflation ticks up in Q4 Latest reading: New Zealand’s inflationary pressures strengthened toward the end of 2025, with the annual CPI rising to 3.1% in... -
Japan: Inflation eases to lowest since March 2022 in December Latest reading: Consumer prices were up 2.1% on a year-on-year basis in December, following a 2.9% rise in the prior... -
Croatia: Inflation ebbs in December from prior month Latest reading: Harmonized consumer prices rose 3.8% in annual terms in December, following a 4.3% increase in the prior month.... -
Hong Kong: Inflation rises in December from the prior month Latest reading: Consumer prices were up 1.5% on a year-on-year basis in December, following a 1.2% rise in the previous... -
Canada: Inflation rises in December from November Latest reading: Consumer prices were up 2.4% in annual terms in December, following a 2.2% increase in the previous month.... -
South Africa: Inflation inches up in December Latest reading: Consumer prices were up 3.6% in annual terms in December, following a 3.5% rise in the previous month....