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Consumer Price Index Producer Price Indices Other Price Indices

Consumer Price Index

The Consumer Price Index (CPI) is designed to measure the average price changes of a fixed basket of consumption goods and services commonly purchased by the resident households over time. It measures price movement (i.e., change in prices) but not absolute price level at a point in time. The weighting pattern for the 2019-based CPI was derived from the expenditure values obtained from the Household Expenditure Survey (HES) conducted between October 2017 and September 2018, and updated to 2019 values by taking into account price changes between 2017/18 and 2019.

The CPI is compiled on a monthly basis. The annual CPI is derived by taking a simple average of the 12 months’ indices for the year.

Average Retail Prices of Selected Consumer Items

Retail prices of selected consumer items are obtained from a wide range of retailers and service providers commonly patronised by resident households.

Prices of items starting from January 2019 are based on the 2019-based CPI basket. While they are indicative of the average transaction price levels in the same base period, they are not a measure of pure price movements across CPI baskets due to changes in the sample of brands/varieties and outlets priced.

Data

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Key Indicators

Item	Legend	Latest Period	Latest Data	% Change (Y-o-Y) 1/	Previous Period Data	% Change (Y-o-Y) 2/
Prices and Price Indices
Consumer Price Index	(2019 as Base Year)	Jul-23	113.3	4.1	113.6	4.5
Consumer Price Index	(2019 as Base Year)	2022	108.4	6.1	102.1	2.3
Domestic Supply Price Index	(2018=100)	Jul-23	112.7	-8.9	110.8	-14.3
Singapore Manufactured Products Price Index	(2018=100)	Jul-23	108.0	-7.6	107.8	-9.1
Import Price Index	(2018=100)	Jul-23	110.5	-7.5	108.7	-13.0
Export Price Index	(2018=100)	Jul-23	108.9	-12.1	108.0	-15.0
Accounting Services Price Index	(2022=100)	Q1/23	101.8	0.1	98.5	-2.6
Accounting And Auditing Price Index	(2022=100)	Q1/23	101.5	-0.4	98.3	-3.2
Book-Keeping Price Index	(2022=100)	Q1/23	104.1	4.4	100.5	2.7
Cargo Handling Price Index	(2021=100)	Q1/23	102.4	2.8	102.8	3.2
Container Depot Services Price Index	(2021=100)	Q1/23	100.3	0.2	100.7	0.5
Crane Services Price Index	(2021=100)	Q1/23	100.0	0.8	100.0	1.0
Stevedoring Services Price Index	(2021=100)	Q1/23	107.6	7.8	108.5	8.6
Computer Consultancy and Information Services Price Index	(2021=100)	Q1/23	100.5	-0.4	102.3	1.7
Computer Programming And Consultancy Price Index	(2021=100)	Q1/23	100.8	-0.9	103.4	2.4
Information Services And Online Marketplace Price Index	(2021=100)	Q1/23	100.0	0.3	100.6	0.5
Freight Forwarding Price Index	(2022=100)	Q1/23	87.1	-14.0	93.7	-4.1
Sea Freight Forwarding Price Index	(2022=100)	Q1/23	80.9	-21.9	89.7	-7.3
Air Freight Forwarding Price Index	(2022=100)	Q1/23	91.1	-8.2	97.6	-1.5
Land Freight Forwarding Price Index	(2022=100)	Q1/23	129.3	41.8	107.2	8.2
Sea Freight Transport Price Index	(2022=100)	Q1/23	82.0	-15.8	95.3	-6.8
Containerised Freight Transport Price Index	(2022=100)	Q1/23	59.8	-47.5	74.4	-30.3
Dry Bulk Freight Transport Price Index	(2022=100)	Q1/23	75.6	-21.2	90.1	-14.9
Liquid Bulk And Gas Freight Transport Price Index	(2022=100)	Q1/23	122.4	65.2	132.2	50.2
Telecommunication Services Price Index	(2021=100)	Q1/23	102.6	3.0	102.6	3.2
Wired And Wireless Services Price Index	(2021=100)	Q1/23	99.6	0.0	102.2	2.5
Internet Access Providers And Other Telecommunication Services Price Index	(2021=100)	Q1/23	104.6	5.0	102.8	3.6
Warehousing and Storage Price Index	(2021=100)	Q1/23	102.9	2.6	101.8	1.6
General And Refrigerated Warehousing Price Index	(2021=100)	Q1/23	103.9	3.7	103.1	3.0
Dangerous Goods Storage Price Index	(2021=100)	Q1/23	101.6	1.3	100.2	-0.1

Data are preliminary when first released.
1 Refers to % change in latest period over the same period in the previous year.
2 Refers to % change in the previous period over the same period in the previous year.

Consumer Price Index (CPI)/ Inflation Rate

Title : Consumer Price Index (CPI), 2019 As Base Year, Annual

Index

Data Items	2015	2016	2017	2018	2019	2020	2021	2022
All Items	98.963	98.436	99.004	99.438	100	99.818	102.119	108.37
Food	93.833	95.759	97.104	98.498	100	101.862	103.326	108.813
Food Excl Food Serving Services	94.198	96.366	97.608	98.87	100	102.898	104.546	110.088
Food Serving Services	93.632	95.427	96.828	98.294	100	101.367	102.744	108.204
Clothing & Footwear	98.528	98.744	99.345	100.777	100	96.16	90.845	93.416
Housing & Utilities	109.499	105.034	102.372	101.003	100	99.714	101.1	106.406
Household Durables & Services	95.689	97.419	98.45	99.227	100	100.285	101.766	103.842
Transport	99.62	97.228	99.756	99.235	100	99.27	108.055	125.793
Communication	101.766	101.387	101.951	100.924	100	100.681	100.095	98.896
Recreation & Culture	96.573	97.462	97.781	98.948	100	98.21	99.228	103.484
Education	89.395	92.145	94.924	97.661	100	99.37	100.633	102.747
Miscellaneous Goods & Services	98.284	98.53	98.67	99.635	100	98.823	98.282	98.739
All Items Less Imputed Rentals On Owner-Occupied Accommodation * Accommodation, one of the groups in the Housing & Utilities expenditure division of the CPI, comprises 'rented and owner-occupied accommodation', as well as 'housing maintenance & repairs'. A significant share of the Accommodation group is 'owner-occupied accommodation (OOA)' cost, which is meant to reflect the costs to homeowners of utilising 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 owner-occupied households. For 'All Items less imputed rentals on owner-occupied accommodation', actual rentals paid on rented homes are still included in this measure.	95.944	96.202	97.85	99.098	100	99.683	102.128	108.705
All Items Less Accommodation	95.658	95.971	97.742	99.067	100	99.657	102.197	108.992

SOURCE : SINGAPORE DEPARTMENT OF STATISTICS

Footnotes

The weighting pattern of the Consumer Price Index (CPI) was derived from the expenditure values collected from the 2017/18 Household Expenditure Survey (HES) and updated to 2019 values by taking into account price changes between 2017/18 and 2019. For more information on the CPI rebasing, refer to the Information Paper 'Rebasing of the Consumer Price Index (2019 as Base Year)' (https://www.singstat.gov.sg/-/media/files/publications/economy/ip-e48.pdf).

Average Retail Prices Of Selected Consumer Items, Annual
Consumer Price Index (CPI), 2019 As Base Year, Annual

Consumer Price Index (CPI), Additional Indicators, 2019 As Base Year, Annual
Consumer Price Index (CPI) By Household Income Group, Lowest 20%, 2019 As Base Year, Annual

Consumer Price Index (CPI) By Household Income Group, Middle 60%, 2019 As Base Year, Annual

Consumer Price Index (CPI) By Household Income Group, Highest 20%, 2019 As Base Year, Annual

Percent Change In Consumer Price Index (CPI) Over Corresponding Period Of Previous Year, 2019 As Base Year, Annual

Percent Change In Consumer Price Index (CPI) By Household Income Group Over Corresponding Period Of Previous Year, Lowest 20%, 2019 As Base Year, Annual

Percent Change In Consumer Price Index (CPI) By Household Income Group Over Corresponding Period Of Previous Year, Middle 60%, 2019 As Base Year Annual

Percent Change In Consumer Price Index (CPI) By Household Income Group Over Corresponding Period Of Previous Year, Highest 20%, 2019 As Base Year, Annual

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Visualising Data

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Consumer Price Index Dashboard

Consumer Price Index at Group and Class Levels Dashboard

Consumer Price Index by Household Group Dashboard

Price Changes and the Consumer Price Index

More visualisations are available here.

Producer Price Indices

The Producer Price Indices (PPIs) measure the rate of change in prices of products (i.e., goods & services) produced by establishments. These are measured at basic prices reflecting the amount received by the producers exclusive of any taxes on products and transport and trade margins. PPIs provide measures of average movement of prices received by the producers of various goods and services. It consists of various International Trade and Producer Price Indices for Commodities and Services PPIs.

International Trade Price Indices

The Import & Export Price Indices (IPI & EPI) track the price movements of imported and exported goods. Prices for imported products are valued at ‘CIF’ (Cost, Insurance and Freight) and prices for exported products are valued at ‘FOB’ (Free On Board). The 2018-based series are compiled using the Laspeyres formula, where the price and weight reference periods are aligned to the year 2018.

The weights for the imported and exported products are derived from the import and export statistics in 2018. Monthly prices are collected from selected importers and exporters.

The indices are compiled on a monthly basis. The annual indices are derived by taking a simple average of the 12 months’ indices for the year.

Data

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International Trade Producer Price Indices (EPI and IPI)

Title : Import Price Index, By Commodity Section (1-Digit Level), Base Year 2018 = 100, Annual

Index

Data Items	2015	2016	2017	2018	2019	2020	2021	2022
Import Price Index - Overall Items	95.109	90.063	95.324	100	98.966	92.025	102.721	117.508
Food & Live Animals	102.032	99.503	101.174	100	101.535	102.907	105.425	114.591
Beverages & Tobacco	99.822	99.569	100.221	100	100.394	97.859	106.379	109.27
Crude Materials (Excl Fuels)	105.263	97.839	100.496	100	101.18	101.798	104.743	111.042
Mineral Fuels, Lubricants & Related Materials	74.84	61.546	79.712	100	93.405	65.6	103.951	144.974
Animal & Vegetable Oils Fats & Waxes	101.968	110.607	114.724	100	90.379	103.065	149.557	174.816
Chemicals & Chemical Products	98.016	93.847	96.716	100	98.6	97.447	103.629	110.222
Manufactured Goods	99.228	92.301	96.437	100	99.922	99.77	109.874	118.153
Machinery & Transport Equipment	103.939	102.443	102.152	100	101.283	101.263	99.891	105.336
Miscellaneous Manufactured Articles	100.978	101.761	101.618	100	102.042	105.952	106.397	109.009
Non-Oil Import Price Index	102.435	100.37	100.967	100	100.911	101.263	102.291	107.906

SOURCE : SINGAPORE DEPARTMENT OF STATISTICS

Footnotes

Import Price Index, By Commodity Section (1-Digit Level), Base Year 2018 = 100, Annual

Import Price Index, By Commodity Division (2-Digit Level), Base Year 2018 = 100, Annual

Export Price Index, By Commodity Section (1-Digit Level), Base Year 2018 = 100, Annual

Export Price Index, By Commodity Division (2-Digit Level), Base Year 2018 = 100, Annual

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Visualising Data

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Import Price Index Dashboard

Export Price Index Dashboard

Producer Price Indices for Commodities

The Singapore Manufactured Products Price Index (SMPPI) measures the changes in the prices of goods manufactured by local manufacturers, while the Domestic Supply Price Index (DSPI) monitors the price changes of commodities, either locally manufactured or imported from abroad, which are retained for use in the domestic economy. The 2018-based series are compiled using the 'modified Laspeyres' formula, where the weight reference period of 2017 preceded the price reference period of 2018.

The weights for Singapore manufactured products are derived from production data collected in the 2017 Census of Manufacturing Activities. On the other hand, the weights for the Domestic Supply Price Index are made proportionate to the combined value of retained imports and locally manufactured goods sold in the domestic market. The indices are compiled on a monthly basis. The annual indices are derived by taking a simple average of the 12 months’ indices for the year.

Data

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Producer Price Indices (DSPI, SMPPI and SPPI)

Title : Domestic Supply Price Index, By Commodity Section (1-Digit Level), Base Year 2018 = 100, Annual

Index

Data Items	2015	2016	2017	2018	2019	2020	2021	2022
Domestic Supply Price Index - Overall Items	94.337	87.792	93.977	100	96.747	88.363	101.816	120.797
Food & Live Animals	101.153	99.157	101.02	100	101.31	103.576	105.801	114.514
Beverages & Tobacco	100.984	100.565	98.904	100	102.056	104.061	104.63	114.615
Crude Materials (Excl Fuels)	109.414	99.692	98.773	100	98.355	97.248	105.166	117.368
Mineral Fuels, Lubricants & Related Materials	75.235	61.574	79.678	100	92.951	64.374	102.476	144.275
Animal & Vegetable Oils Fats & Waxes	106.016	111.465	114.142	100	90.878	103.552	150.048	176.709
Chemicals & Chemical Products	94.584	90.38	95.506	100	94.146	87.71	96.012	104.799
Manufactured Goods	99.133	93.216	96.793	100	101.497	102.209	111.671	120.084
Machinery & Transport Equipment	106.962	103.163	102.167	100	98.21	98.03	100.378	112.11
Miscellaneous Manufactured Articles	100.231	100.708	101.313	100	101.032	103.994	104.878	109.125
Non-Oil Domestic Supply Price Index	102.654	99.207	100.202	100	98.215	97.636	101.561	111.721

SOURCE : SINGAPORE DEPARTMENT OF STATISTICS

Footnotes

The domestic supply price index measures the change in prices of imported and locally manufactured product retained for use in the country.

Domestic Supply Price Index, By Commodity Section (1-Digit Level), Base Year 2018 = 100, Annual

Domestic Supply Price Index, By Commodity Division (2-Digit Level), Base Year 2018 = 100, Annual

Singapore Manufactured Products Price Index, By Commodity Section (1-Digit Level), Base Year 2018 = 100, Annual

Singapore Manufactured Products Price Index, By Commodity Division (2-Digit Level), Base Year 2018 = 100, Annual

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Visualising Data

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Singapore Manufactured Products Price Index Dashboard

Domestic Supply Price Index Dashboard

More visualisations are available here.

Producer Price Indices for Services

The Services Producer Price Indices (SPPIs) measure changes in the average prices of services produced by establishments, for selected industries of the Singapore economy. The prices captured reflect the amount received by a producer, exclusive of any taxes. The SPPIs are aligned to the Singapore Standard Industrial Classification. They are calculated using the modified Laspeyres price index formula with fixed base weights, where the weights reference period precedes the price reference period.

The following SPPIs are compiled on a quarterly basis:

Sea Freight Transport Price Index (SFTPI)
Warehousing and Storage Price Index (WSPI)
Cargo Handling Price Index (CHPI)
Freight Forwarding Price Index (FFPI)
Telecommunication Services Price Index (TSPI)
Computer Consultancy and Information Services Price Index (CISPI)
Accounting Services Price Index (ASPI)

The indices are compiled on a quarterly basis. The annual indices are derived by taking a simple average of the 4 quarters’ indices for the year.

Data

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Services Producer Price Indices

Title : Services Producer Price Indices, By Index, Quarterly

Index

Data Items	2021 3Q	2021 4Q	2022 1Q	2022 2Q	2022 3Q	2022 4Q	2023 1Q
Accounting Services Price Index	101.7	101.1	101.7	101.2	98.6	98.5	101.8
Accounting And Auditing Price Index	102.4	101.5	101.9	101.4	98.4	98.3	101.5
Book-Keeping Price Index	96.3	97.9	99.7	99.7	100.2	100.5	104.1
Cargo Handling Price Index	99.6	99.6	99.6	100.8	101.8	102.8	102.4
Container Depot Services Price Index	100.2	100.2	100.2	100.2	100.4	100.7	100.3
Crane Services Price Index	99	99	99.1	99.7	100	100	100
Stevedoring Services Price Index	100	99.9	99.8	102.8	105.6	108.5	107.6

SOURCE : SINGAPORE DEPARTMENT OF STATISTICS

Footnotes

Services Producer Price Indices, By Index, Quarterly

Other Price Indices

The Building and Construction Authority (BCA) compiles data on construction material market prices using the average market prices of construction materials for the respective years.

The Housing and Development Board (HDB) compiles the Price Index of HDB Resale Flats, while the Urban Redevelopment Authority (URA) compiles the Private Residential Property Price Index and Commercial Property Price and Rental Indices. Since the fourth quarter of 2013, the Industrial Property Price Index, previously released by URA, has been compiled by the JTC Corporation.