Singapore core inflation rose to 1.6% in June, below forecasts
What's next: MAS and MTI kept their 2026 inflation forecast at 1.5% to 2.5%, with higher energy costs set to hit July electricity tariffs.
Singapore’s core inflation picked up to 1.6% year over year in June from 1.4% in May, while headline inflation rose to 1.9% from 1.8%, official data showed Thursday. Both readings came in below economists’ estimates. The increase in core prices was driven by faster gains in food, services, and retail and other goods. Food inflation climbed to 2.1%, services to 1.5%, and retail and other goods to 1.7%. Accommodation inflation edged up to 0.6%, while private transport inflation eased to 8.4%. The Monetary Authority of Singapore and the Ministry of Trade and Industry left their full-year 2026 forecasts for both core and headline inflation unchanged at 1.5% to 2.5%, but said risks to the outlook remain tilted upward.