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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SingaporeSingapore CPI held to 1.2% in November 2025
FMPMonthlyReleased December 2025
Singapore CPI held to 1.2% in November 2025, released December 2025. The print came in cooler than the 1.3% consensus, a softer print than forecasters anticipated. The print is running well below the 12-month average of 19.75%. Over the past 3 months, CPI averaged 0.95%, vs 0.27% in the prior 3-month window. CPI is now the highest in 10 months.
Latest Release
1.2
Actual
1.3
Consensus
1.2
Previous
Median Absolute Error
±0.27 percentage points
across last 12 releases
Last Call
Dec 2025
Predicted: 1.43
Actual: 1.2
Error: +0.23
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| Hang Seng | ▲ Direct | +0.67 | INDEX | Moves with | → View |
| S&P 500 | ▲ Direct | +0.39 | INDEX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
CPI (Singapore) was reported at 1.4% in February 2026. The reading rose from the previous value of 1.2%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 1.22 Percent, ranging from 0.30 Percent to 2.00 Percent across 17 releases. This is classified as a high-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 1.90 Percent, up from the prior three at 1.33 Percent. Volatility over the past year (σ 0.47 Percent) is comparable than the prior year (σ 0.50 Percent). In August readings over the past 3 years, Singapore CPI has averaged 0.73 Percent.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with Hang Seng (Bullish Hang Seng). A secondary relationship exists with S&P 500, positively correlated (Bullish S&P 500). Over the last 12 releases, the Sigmacast model's median absolute error is 0.27 Percent.
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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CPI - SG
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About CPI — Singapore
DEFINITION
Singapore CPI rose to 2.000000 percent in August, up from July’s 1.900000 percent, marking a continued acceleration in inflation. This increase from July to August signals a firming price environment after several months of gradual rises. Market participants will watch for further inflation data as the Monetary Authority of Singapore maintains its vigilant monetary policy stance. Updated 8/25/26
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with Hang Seng (Bullish Hang Seng, r=0.67) — a useful reference for index-focused traders.
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EXPECTED ZONE
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Economic Calendar - SG Events
| Thursday, September 17, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 00:30 | SG | Balance of Trade | 10.724 | 11 | 10.29 | Low | |
| 00:30 | SG | Non-Oil Exports YoY | 24.2 | 35 | 39.20 | Low | |
| 02:30 | SG | Unemployment Rate | 2 | 2 | 2.00 | Low | |