Inflation rates by country and year

-1.8%4.2%10.3%16.3%22.4%
-1.8%4.2%10.3%16.3%22.4%
19610.4%
19932.3%
20250.9%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2025Inflation Rate0.9%

Behind the curve

Turning points in Singapore

  1. 1973↑ Upward pressure

    The first oil shock — Wikipedia (opens in a new tab)

    Singapore's dependence on imported oil and food made it vulnerable to the 1973 shock, which raised costs and inflation into the mid-1970s.

    Monetary Authority of Singapore
  2. 1998↕ Mixed effects

    The Asian financial crisis — Wikipedia (opens in a new tab)

    The regional crisis and the Singapore dollar's depreciation disrupted trade, and the deep downturn later pushed prices lower.

    Monetary Authority of Singapore
  3. 2008↑ Upward pressure

    The world food price crisis — Wikipedia (opens in a new tab)

    As an open, import-dependent economy, Singapore absorbed the 2007–08 global food and energy price surge.

    Monetary Authority of Singapore
  4. 2020↓ Downward pressure

    The pandemic recession — Wikipedia (opens in a new tab)

    The pandemic hit trade and tourism hard, tipping Singapore into mild deflation in 2020.

    Monetary Authority of Singapore
  5. 2022↑ Upward pressure

    The post-pandemic inflation surge — Wikipedia (opens in a new tab)

    Higher global food and energy prices pushed Singapore's inflation to multi-year highs in 2022.

    Monetary Authority of Singapore

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in Singapore?

The annual inflation rate in Singapore was 0.9% in 2025, the most recent year in the World Bank dataset. That means prices rose 0.9% on average compared with the year before. Use the chart above to explore Singapore's full inflation history from 1961 to 2025, and to compare it with any other country.

How inflation in Singapore has changed

Inflation in Singapore peaked at 22.4% in 1974 and reached its lowest point at -1.8% in 1976. Averaged across the 65 years of available data (1961–2025), the rate has been 2.5% per year.

Frequently asked questions about inflation in Singapore

What is the current inflation rate in Singapore?

The latest available annual figure is 0.9% in 2025, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by Singapore's statistical office.

What was the highest inflation rate in Singapore?

The highest annual inflation rate on record is 22.4%, reached in 1974.

What was the lowest inflation rate in Singapore?

The lowest annual inflation rate on record is -1.8%, recorded in 1976.

Where does the inflation data for Singapore come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.