Current inflation Singapore 1.6%
December 2024
Current Inflation
Inflation is normal at 2.4%, around the ECB target.
Historical Context
Current inflation is 0.7% lower than the 5-year average of 3.1%.
- 5-year average
- 3.1%
- 10-year average
- 1.6%
- All-time high (2008)
- 6.6%
- All-time low (2016)
- -0.5%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +2.4 percentage point.
ECB Target
Inflation is 0.4% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.40 next year at this inflation rate.
Last 12 months
5-year trend
Statistics
- This year (avg.)
- 2.4%
- Last year
- 4.8%
- 5-year average
- 2.4%
- All-time high (2008)
- 6.6%