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Singapore's Core Inflation Accelerates to 2% in July

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Singapore's core consumer price index (CPI), which excludes accommodation and private transport costs, rose 2% year over year in July, according to joint data released by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) on Monday.

The reading compared with the 1.6% pace recorded in the previous month.

Meanwhile, headline inflation (CPI-All Items) accelerated to 2.2%, driven primarily by an increase in accommodation inflation as well as higher core inflation.

MAS and MTI noted that core inflation is expected to average between 1.5% and 2.5% for the full year 2026 and could remain elevated at the beginning of 2027 before subsiding in the middle of next year alongside a decline in global energy prices.

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