Singapore's core inflation rises to 2.2 percent in August on higher services, retail, and food costs

In August 2026, Singapore's core inflation rose to 2.2 percent year-on-year, up from 2 percent in July, driven by higher costs for services, retail goods, and food. Headline inflation, which includes accommodation and private transport, increased to 2.3 percent. The Monetary Authority of Singapore and the Ministry of Trade and Industry attributed the rise to elevated global energy prices and expected imported costs to pick up further. They maintained their full-year inflation forecast of 1.5 to 2.5 percent, with core inflation expected to moderate from mid-2027.