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
ALL ITEMS LESS
IMPUTED RENTALS
FOR HOUSING1
MAS CORE
INFLATION
MEASURE2
2023
4.8%
2024
2.4%
2023
4.9%
2024
2.3%
2023
4.2%
2024
2.8%
SINGAPORE'S CPI INCREASED 2.4% IN 2024
  1. All Items less Imputed Rentals for Housing: Accommodation, one of the groups in the Housing & Utilities
    expenditure division, comprises Actual Rentals for Housing, Imputed Rentals for Housing, as well as
    Housing Maintenance & Repairs. A significant share of the Accommodation group is Imputed Rentals
    for Housing, which reflects the costs to homeowners of utilising the flow of services provided by
    their homes over an extended period of time. Given that 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 of similar properties. Imputed Rentals 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 2024-BASED CPI
FOR GENERAL HOUSEHOLDS
HOUSING & UTILITIES, FOOD, AND TRANSPORT ARE THE TOP 3 EXPENDITURE GROUPS

2024-BASED CPI
WEIGHTING PATTERN
FOR GENERAL
HOUSEHOLDS
%
Housing
& Utilities
%
Food
%
Transport
%
Health
%
Recreation,
Sport & Culture
%
Education
%
Household
Durables & Services
%
Miscellaneous
Good & Services
%
Information &
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, HEALTH AND RECREATION, SPORT & CULTURE.

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%
    View our latest press release on Consumer Price Index by Household Income Group
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    Updated in Feb 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