Inflation, consumer prices for Singapore
FPCPITOTLZGSGP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.39
Year-over-Year Change
-47.84%
Date Range
1/1/1961 - 1/1/2024
Summary
The Inflation, consumer prices for Singapore measures the change in the prices paid by consumers in Singapore for a basket of goods and services. This metric is a key indicator of overall economic conditions and the effectiveness of monetary policy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Inflation, consumer prices for Singapore tracks the rate of change in the prices of a representative basket of consumer goods and services in Singapore. It is used by policymakers, economists, and analysts to assess the general price level, evaluate cost-of-living adjustments, and inform monetary and fiscal policy decisions.
Methodology
The data is collected through surveys of consumer expenditures and calculated as a weighted average of price changes for different categories of goods and services.
Historical Context
Monitoring inflation is crucial for the Monetary Authority of Singapore to maintain price stability and support sustainable economic growth.
Key Facts
- Singapore's inflation rate was 6.7% in 2022.
- The inflation target set by the Monetary Authority of Singapore is 0-2% per year.
- Inflation in Singapore is influenced by both domestic and global economic factors.
FAQs
Q: What does this economic trend measure?
A: The Inflation, consumer prices for Singapore measures the change in the prices paid by consumers for a basket of goods and services in the country.
Q: Why is this trend relevant for users or analysts?
A: Monitoring inflation is crucial for policymakers to maintain price stability and support sustainable economic growth in Singapore.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and calculated as a weighted average of price changes for different categories of goods and services.
Q: How is this trend used in economic policy?
A: The Inflation, consumer prices for Singapore is used by the Monetary Authority of Singapore to inform monetary policy decisions and maintain the inflation target range.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Inflation, consumer prices for Singapore (FPCPITOTLZGSGP), retrieved from FRED.