Singapore Inflation Rate Highest Since 2024

Singapore’s annual inflation rate rose to 1.8% in March 2026, from 1.2% in the previous month. This marked the highest reading since September 2024, driven largely by a sharp increase in transport costs, which climbed to 6% from 2.7% in February, amid higher petrol prices linked to prolonged Middle East tensions that disrupted global supply chains. Meanwhile, prices were stable for food (1.6%) and housing and utilities (0.3%), while easing was recorded in health (4% vs 4.2%) and recreation, sport and culture (1.7% vs 1.9%). Authorities noted that inflation risks remain tilted to the upside, warning that prolonged disruptions to global energy supplies or shortages in key inputs to regional supply chains could further increase imported costs for Singapore. On a monthly basis, consumer prices edged down to 0.5% from 0.6% in February. Meanwhile, the core inflation rate rose to 1.7% in March, from 1.4% in the preceding month, marking its highest level since November 2024.

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.