Singapore Inflation Lowest in 4 ½ Years

Singapore’s annual inflation rate edged lower to 1.2% in February 2026, from a thirteen-month high of 1.4% in the previous month. The main downward pressure came from housing and utilities (0.3% vs 1.7% in January), driven largely by softer prices in utilities and other fuels. On the other hand, food inflation picked up (1.6% vs 1.2%), particularly in cereal products, meat, and fruits and nuts. Transport costs also accelerated (2.7% vs 2.4%), led by private transport and land transport services. In addition, prices recovered for clothing (0.9% vs -0.4%) and information and communication (1.4% vs -1.9%), while inflation rose further in recreation, sport and culture (1.9% vs 0.6%). On a monthly basis, consumer prices increased 0.6%, rebounding from a 0.5% decline in January. Meanwhile, the core inflation rate rose to 1.4% from 1%, marking its highest level since December 2024.

Singapore’s annual inflation rate rose to 1.4% in January 2026, the highest reading since December 2024, accelerating from 1.2% in December. The main upward pressure came from a sharp increase in housing maintenance and repair costs, which surged to 27.9% (vs 1.6% in December). Inflation also picked up in housing and utilities (1.7% vs 0.2%), healthcare (4.4% vs 4.2%), and recreation, sport and culture (0.6% vs 0.3%). Meanwhile, food inflation held steady at 1.2%, as declines in rice (-1.9% vs -4.1%) and leafy vegetables (-2.4% vs -2.1%) were offset by higher prices for cakes and pastries (2.1% vs 1.3%), and breakfast cereals (1.7% vs -0.8%). Transport inflation also slowed to 2.4% (vs 3.6%), while deflation persisted for clothing & footwear (-0.4% vs -1%), and information and communication remained in deflation (-1.9% vs -2%). Core inflation was unchanged at 1.2%. On a monthly basis, CPI fell 0.5%, the first decline since late July, following a 0.3% increase in December.

Singapore's annual inflation rate stood at 1.2% in December 2025, unchanged from the previous two months and in line with market expectations. Prices were stable for food (1.2%), housing and utilities (0.2%), and information and communications (-2%). Additionally, costs rose slightly for transport (3.6% vs 3.2%) and education (1.2% vs 1.1%). On the other hand, deflation deepened for clothing and footwear (-1% vs -0.5%), while it slipped for household durables and services (-0.3% vs 0%) and ticked down for recreation, sport and culture (0.3% vs 0.5%) and miscellaneous goods and services (0.1% vs 0.2%). On a monthly basis, consumer prices edged up to 0.3% from 0.2% in November 2025. Meanwhile, the annual core inflation rate remained unchanged at 1.2% in December, the same as in the previous two months.