Singapore's core inflation rate rises to 2.2% in August, above forecast

Core inflation in Singapore climbed to 2.2% in August compared with a year earlier, according to official figures released on Wednesday and reported by Business Recorder. The reading came in above the 2.1% median estimate in a Reuters poll and the 2.0% recorded in July. The last time it was this high was in September 2024, when the figure stood at 2.8%.

Headline inflation registered 2.3% year on year in August, matching the poll expectation. The central bank had earlier expected price increases to gain pace after July and to remain high during the first half of next year. Officials tightened monetary settings in late July, with inflation risks from costly energy cited as the reason. Separately, the trade ministry now expects 2026 growth of 4.5% to 5.5%, an upgrade from the earlier 2.0% to 4.0% range.