Singapore's core inflation rate rises to 2% in September, below forecast

Singapore’s core inflation eased to 2% year on year in September, down from 2.2% in August, according to data reported by Business Recorder. The reading was below the 2.3% median estimate in a Reuters poll. Headline inflation, which includes a wider range of costs, was 2.2% for the month, in line with the poll’s expectation.

The core measure excludes private road transport and accommodation expenses. Singapore’s central bank left monetary settings unchanged last week, despite analyst surprise, while inflation risks were expected to soften somewhat as the AI boom and supply constraints moderated. Separately, the trade ministry raised its 2026 growth projection in August to 4.5% to 5.5%, from a previous 2.0% to 4.0% range.