Singapore Food Inflation

Food prices in Singapore increased by 2.5% year-on-year in December 2024, following the softest rise since February 2022 of 2.4% in the previous month. Within food, excluding food servicing services, prices continued to rise for bread & cereals (3.5% vs 3.2% in November), fruits (4.5% vs 1.8%), non-alcoholic beverages (2.5% vs 2.4%), oils & fats (3.5% vs 3.3%), vegetables (4.7% vs 3.1%), sugar, preserves & confectionery (2.8% vs 2.7%), and other food (2.5% vs 2.2%). Conversely, prices dropped for meat (-1.1% vs -0.9%), fish & seafood (-2.8% vs -4.9%), and milk, cheese & eggs (-0.1% vs 0.3%). Among food servicing services, prices increased further for restaurant foods (3.1% vs 3.5%), fast foods (3.4% vs 3.4%), hawker food (2.8% vs 2.8%), and catered food (2.6% vs 2.6%).