Singapore CPI records 2.4% increase in 2024

Expenses in healthcare and food went up significantly.

Singapore's consumer prices increased by 1.6% in December 2024, totalling 2.4% for 2024, with rising costs in food, healthcare, and housing contributing to the growth, according to the latest Consumer Price Index report.

Expenses in healthcare went up the most at 2.7%. Education went up by 2.6%. The Food, and Housing and Utilities segment followed closed, both at 2.5%.

Clothing and communication segments went down at 1.5% and 1.2% respectively.

In 2023, headline inflation averaged 4.8%, down from 6.1% in 2022, whilst core inflation averaged 4.2%, up from 4.1% in 2022.

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