Consumer prices jump 0.9% in February, driven by soaring food, transport, and health costs

SINGAPORE: The Consumer Price Index (CPI) in Singapore rose by 0.9% year-on-year (YoY) in February 2025, signalling a continued increase in the cost of living, according to the latest data from the Department of Statistics Singapore (SingStat) that was published by a recent Singapore Business Review article. This increase marks a rebound from January’s 0.7% decline, with February seeing a 0.8% rise compared to the previous month.

Several key categories contributed to the upward trend in prices, including food, transport, housing and utilities, education, and healthcare. Transport costs saw a notable jump of 1.8% YoY, while healthcare prices also rose by 1.8%. Housing and utilities saw a more modest increase of 1.4%, reflecting the ongoing pressure on living expenses.

Food prices, another key driver, rose by 1% YoY, contributing to the broader inflationary trend. However, other sectors experienced price declines compared to February 2024. Categories such as clothing and footwear, information and communication, recreation, sports and culture, household durables and services, as well as miscellaneous goods and services, all saw lower prices.

The most significant drop came from recreation, sport, and culture services, which recorded a 1.1% decrease YoY, marking the largest decline of any category.

The CPI, a crucial gauge for understanding inflation, tracks the average price changes in a fixed basket of goods and services commonly purchased by resident households. The latest CPI figures are based on the expenditure values derived from the 2023 Household Expenditure Survey (HES), updated to reflect price changes through to 2024.

As inflation continues to impact households, these data serve as a timely reminder of the shifting economic landscape and the challenges consumers face across various sectors.