Singapore Food Inflation

Food prices in Singapore rose 3% year-on-year in March 2024, easing from a 3.8% increase in the previous month. It was the lowest rate since February 2022, mainly due to a sharp slowdown in inflation for food excluding food servicing (0.9% vs 3.2% in February), particularly bread & cereals (3.8% vs 4.3%), meat (1.2% vs 2.3%), milk, cheese & eggs (2.5% vs 4.5%), and oils & fats (3.5% vs 4%). Also, prices declined for fish & seafood (-5.6% vs 2.7%). At the same time, inflation edged down for food serving services (4% vs 4.1%), as costs eased for restaurant food (3.6% vs 3.8%), and fast food (6% vs 6.6%).