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
2022
6.1%
2023
4.8%
2022
6.4%
2023
4.8%
2022
4.1%
2023
4.2%
SINGAPORE'S CPI INCREASED 4.8% IN 2023
  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 “owner-occupied accommodation” 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. The Owner-Occupied Accommodation (OOA) cost in CPI comprises
    rentals that are imputed for owner-occupied homes. Imputed rentals on OOA have no impact on the
    cash expenditure of owner-occupied households. 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 2023
MAIN CONTRIBUTORS TO THE CPI-ALL ITEMS INFLATION RATE IN 2023 ARE
TRANSPORT, FOOD, HOUSING & UTILITIES AND RECREATION & CULTURE.

2023 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 2023
THE CPI-ALL ITEMS FOR LOWEST 20%, MIDDLE 60%
AND HIGHEST 20% INCOME GROUP ROSE 4.3%,
4.7% AND 5.1% RESPECTIVELY IN 2023.
General
Households
4.8%
Lowest 20%
Income Group
4.3%
Middle 60%
Income Group
4.7%
Highest 20%
Income Group
5.1%
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Updated in Jan 2024


 

For more information, please refer to the resources at

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