CPI for all items flat in December 2020

Core inflation fell to -0.3% YoY over the same period.

Despite the headline measure moving out of deflation, Singapore has seen consumer prices fall further in December 2020, according to the Department of Statistics (SingStat) consumer price index (CPI) figures.

Core inflation fell to -0.3% YoY, whilst headline inflation was flat at 0% during the same period.

The December data brings full-year core and headline inflation both at a decline of 0.2% YoY in 2020, down from the increase of 1% and 0.6% YoY, respectively, in 2019.

“In 2020, all three income groups incurred cheaper electricity, petrol, outpatient services and clothing & footwear, which collectively outweighed the effect of higher food prices and bus & train fares on their respective CPI-All Items,” the SingStat report stated.

The fall in core inflation was driven by services deflation deepening to -0.8% YoY in December from -0.2% YoY in November. Food inflation also fell to 1.6% YoY, down from 1.8% YoY in November.

Meanwhile, private transport costs boosted the headline inflation, rising 1.2% YoY in December.

For the full year, however, only the food (1.9%), communication (0.7%), and household durables and services (0.3%) categories recorded positive inflation.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia