Singapore Inflation Rises To 0.7% Highest Since June 2025

Singapore's consumer price inflation rose to 0.7% year-on-year in September 2025, marking the highest level in three months and surpassing market expectations. The increase was driven primarily by higher private transport costs, which accelerated to around 3.4-3.7%, alongside modest rises in retail goods and healthcare expenses. Core inflation, excluding accommodation and private transport, edged up to 0.4%, above forecasts, reflecting steady inflation in services and food prices. Month-on-month, the consumer price index increased by 0.4%, with accommodation and food inflation remaining stable. Despite the uptick, Singapore's inflation remains muted compared to pandemic highs, and the Monetary Authority of Singapore projects moderate inflation rates below 1.5% through 2026. These developments suggest a cautiously improving inflation environment amid ongoing economic adjustments.