Singapore Inflation Rate Hits Over 2-Year High

2026-09-23 05:25 By Czyrill Jean Coloma 1 min. read

Singapore’s annual inflation rate edged up to 2.3% in August 2026 from 2.2% in the previous month.

It marked the highest reading since July 2024, as prices accelerated for food (2.3% vs 2.2% in July), transport (8.1% vs 7.9%), clothing and footwear (3.1% vs 1.5%), household durables and services (1.2% vs 1%), and miscellaneous goods and services (2.6% vs 1.9%).

Moreover, prices were stable for housing and utilities (1.3%) and health (3.3%), while deflation in education slightly eased (-0.7% vs -0.9%).

In contrast, inflation ticked down for recreation, sport and culture (1% vs 1.1%).

On a monthly basis, consumer prices rebounded 0.6% from a 0.2% decline in July, marking its highest level since February.

Core inflation, which excludes accommodation and private transport costs, rose to 2.2% in August from 2% in July, its highest since September 2024.

The central bank had earlier said inflation was expected to pick up from July and remain elevated through the first half of next year.



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Singapore Inflation Rate Hits Over 2-Year High
Singapore’s annual inflation rate edged up to 2.3% in August 2026 from 2.2% in the previous month. It marked the highest reading since July 2024, as prices accelerated for food (2.3% vs 2.2% in July), transport (8.1% vs 7.9%), clothing and footwear (3.1% vs 1.5%), household durables and services (1.2% vs 1%), and miscellaneous goods and services (2.6% vs 1.9%). Moreover, prices were stable for housing and utilities (1.3%) and health (3.3%), while deflation in education slightly eased (-0.7% vs -0.9%). In contrast, inflation ticked down for recreation, sport and culture (1% vs 1.1%). On a monthly basis, consumer prices rebounded 0.6% from a 0.2% decline in July, marking its highest level since February. Core inflation, which excludes accommodation and private transport costs, rose to 2.2% in August from 2% in July, its highest since September 2024. The central bank had earlier said inflation was expected to pick up from July and remain elevated through the first half of next year.
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Singapore’s annual inflation rate edged up to 1.9% in June 2026 from 1.8% in the previous month, slightly below market expectations of 2%. Still, it marked the highest level since September 2024, suggesting that recent increases in global energy prices and transportation costs are beginning to filter through to domestic prices. Price growth accelerated across several key categories, particularly food (2.1% vs 1.8% in May), housing and utilities (0.3% vs 0.2%), and transport (7.5% vs 7.4%). In addition, services inflation ticked higher to 1.5% from 1.4%, driven largely by higher airfares and holiday-related expenses. On a monthly basis, consumer prices stalled in June after rising 0.7% in the previous month. Meanwhile, core inflation, which excludes accommodation and private transport costs, accelerated to 1.6% from 1.4%. The MAS raised its 2026 core inflation forecast to 1.5%-2.5% from 1%-2%, citing risks that persistent price pressures could dampen household spending and demand.
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