Singapore inflation

The official forecast ranges for 2026 will be updated in the upcoming monetary policy statement, which will be released on Jan 29.

Singapore’s 2025 core inflation averages 0.7%, down from 2.8% in 2024

December’s core and headline inflation stayed unchanged at 1.2%

Services inflation edged up 1.9% in November, against October’s 1.8%, due to larger increases in the costs of point-to-point transport services and health insurance.

Singapore’s core, headline inflation hold steady at 1.2% in November

Official forecasts for 2025 also remain unchanged, at 0.5% for core inflation and 0.5% to 1% for headline inflation

At its last meeting in July, the Monetary Authority of Singapore also kept policy settings unchanged.

MAS holds policy steady in October, expected to continue doing so in 2026

Better-than-forecast growth means ‘no urgency’ to change monetary policy settings, say economists

The latest move comes after the central bank kept policy settings unchanged in July.

Singapore keeps monetary policy settings unchanged in October, for second straight quarter

Full-year core inflation is now forecast at 0.5%, while the headline inflation range was narrowed lower

Food inflation holds steady at 1.1% as a slight moderation in non-cooked food inflation is offset by a mild pickup in food services inflation.

Singapore’s core inflation slows to 0.3% in August, below expectations

Headline inflation also slows to 0.5%, down from 0.6% in July

Food inflation edged up to 1.1%, from 1% the previous month, as the prices of food services and non-cooked food rose at a quicker pace.

Singapore’s core inflation eases to 0.5% in July, below forecasts

Headline inflation also slows to 0.6%, down from 0.8% in June

MAS expects growth momentum to moderate over the year, but notes that the risk of a sharp step-down in global growth in the near term has receded.

Economists mixed on MAS October policy decision after central bank stands pat in July

Some expect the Monetary Authority of Singapore to maintain the status quo, others believe that it will resume slope reduction