Singapore's Core Inflation Rises to 2% in July on Higher Electricity and Gas, Services, Food Prices
- On Aug 24, the Monetary Authority of Singapore and Ministry of Trade and Industry reported core inflation rose to 2% last month, while overall inflation reached 2.2%, driven by utility costs and food prices.
- Electricity prices rose 8.7% last month after reversing a 2.9% decline in June, while Food inflation edged up to 2.2% as Services and non-cooked food items saw faster price growth.
- Private transport inflation moderated to 8% last month from 8.4%, yet Higher housing rents and maintenance fees pushed accommodation inflation to 0.8%, up from 0.6% in June.
- Authorities upgraded full-year 2026 GDP growth forecast to 4.5% to 5.5%, more than double the prior estimate. Singapore previously rolled out support packages totaling about 2 billion Singapore dollars to offset Iran war impacts.
- Officials project Inflation will remain Elevated into 2027 before moderating mid-year, maintaining a 1.5% to 2.5% forecast range for 2026. Risks remain tilted to the upside from volatile Global energy prices and potential supply disruptions.
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Food, housing, cause slight inflation rise
The annual rate of inflation as measured by the retail price index, was 2.7 per cent last month, up from 2.5 per cent in June 2026, the NSO said. The highest inflation rates were registered in housing (6.8 per cent) and furnishings and household equipment (5.8 per cent). The lowest annual inflation rates were registered...
Singapore core inflation at 2.0% year-on-year in July, lower than ...
Singapore core inflation rises to 2% in July
Singapore's core inflation rose 2 per cent in July from a year earlier, data from the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) showed.This was driven by an increase in electricity and gas, food, and services inflation, they said in a joint update on Aug 24 (Monday).On a month-on-month basis, core prices, which excludes accommodation and private transport due to their tendency to be significantly influenced b…
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