Singapore’s annual inflation rate edged down to 0.8% in May 2025, from 0.9% over the previous three consecutive months, matching market expectations. This marked the lowest reading since February 2021, as prices ticked lower for food (1.1% vs 1.4%) and transport (1.7% vs 1.8%). In addition, deflation deepened for recreation, sport and culture (-2% vs -1%) and miscellaneous goods and services (-0.4% vs -0.3%).
Meanwhile, costs accelerated for health (2.7% vs 2.5%), while remaining unchanged for housing and utilities (1%). At the same time, deflation slowed for information and communication (-1.9% vs -2%), household durables and services (-0.2% vs -0.7%), and clothing and footwear (-3.3% vs -3.4%). On a monthly basis, the CPI rose by 0.7% in May 2025, rebounding from a 0.3% decline in April. Meanwhile, the annual core inflation rate ticked down to 0.6% in May 2025 from a three-month high of 0.7% in the preceding month.
