Singapore Food Inflation

Food prices in Singapore rose by 1.5% year-on-year in January 2024, a slowdown from the 2.5% increase seen in the previous month, marking the most modest rise since August 2021. The latest result uses 2024 as the base year. Within food, excluding food servicing services, prices rose for rice & cereal products (2.8%), fish & other seafood (0.7%), oils & fats (5.6%), fruits & nuts (7.7%), vegetables (2.7%), sugar, confectionery, and desserts (1.4%), ready-made food & other food products (1.6%), and non-alcoholic beverages (1.0%); but fell for meat (-0.1%) and milk, other dairy products & eggs (-0.4%). Among food servicing services, prices increased for all components: restaurants, cafes & pubs (1.3%), fast food restaurants (0.8%), hawker food and food courts (1.1%), and catered food, including vending machines (0.9%).