SINGAPORE
CONSUMER
PRICE INDEX
(CPI)
The CPI is designed to measure the average price changes of a fixed basket of consumption goods and services commonly purchased by resident households over time. It is widely used as a measure of consumer price inflation.
ALL ITEMS CPI
ALL ITEMS
LESS OOA1
MAS CORE
INFLATION
MEASURE2
2023
4.8%
2024
2.4%
2023
4.8%
2024
2.2%
2023
4.2%
2024
2.7%
SINGAPORE'S CPI INCREASED 2.4% IN 2024
  1. All Items less OOA: Accommodation, one of the groups in the Housing & Utilities expenditure
    division, comprises “Rented and Owner-Occupied Accommodation”, as well as “Housing Maintenance &
    Repairs”. A significant share of the Accommodation group is the “Owner-Occupied Accommodation”
    (OOA) cost, which reflects the costs to homeowners of utilizing the flow of services provided
    by their homes over an extended period of time. As the cost of using housing services is not
    directly observed for homeowners, it is computed based on the imputed rental concept under
    the rental equivalence method, i.e. proxied by market rentals. Imputed rentals on OOA have no
    impact on the cash expenditure of most households in Singapore as they already own their homes.
    Housing Price in not considered in the CPI as it has a high investment component and is
    treated as a capital good. Actual rentals paid on rented units are still included in the measure.
  2. MAS Core Inflation Measure: The Monetary Authority of Singapore (MAS) monitors a core inflation
    measure that excludes the components of “Accommodation” and “Private Transport”.
WEIGHTING PATTERN FOR 2019-BASED CPI
FOR GENERAL HOUSEHOLDS
HOUSING & UTILITIES, FOOD, AND TRANSPORT ARE THE TOP 3 EXPENDITURE GROUPS

2019-BASED CPI
WEIGHTING PATTERN
FOR GENERAL
HOUSEHOLDS
%
Housing
& Utilities
%
Food
%
Transport
%
Recreation
& Culture
%
Education
%
Health Care
%
Household
Durables & Services
%
Miscellaneous
Good & Services
%
Communication
%
Clothing & Footwear
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INFLATION RATE FOR GENERAL HOUSEHOLDS
BY DIVISION IN 2024
MAIN CONTRIBUTORS TO THE CPI-ALL ITEMS INFLATION RATE IN 2024 ARE
HOUSING & UTILITIES, FOOD, RECREATION & CULTURE AND HEALTH CARE.

2024 Inflation Rate by Division
%
%
%
%
%
%
%
%
%
%
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CPI Statistics
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INFLATION RATE FOR GENERAL HOUSEHOLDS AND BY HOUSEHOLD INCOME GROUP IN 2024
THE CPI-ALL ITEMS FOR LOWEST 20%, MIDDLE 60%
AND HIGHEST 20% INCOME GROUP ROSE 2.7%,
2.5% AND 2.1% RESPECTIVELY IN 2024.
General
Households
2.4%
Lowest 20%
Income Group
2.7%
Middle 60%
Income Group
2.5%
Highest 20%
Income Group
2.1%
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Updated in Jan 2025


 

For more information, please refer to the resources at

https://www.singstat.gov.sg/find-data/search-by-theme/economy/prices-and-price-indices