Financial News: Singapore Inflation Climbs To 1.8%, Highest In 18

Singapore Inflation Climbs To 1.8%, Highest In 18 Months

04/23/2026 - 04:47:00 (RTTNews)

(RTTNews) - Singapore's consumer price inflation accelerated in March to the highest level in one-and-a-half years amid rising private transport costs, data published by the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Thursday.

The consumer price index, or CPI, climbed 1.8 percent year-over-year in March, faster than February's increase of 1.2 percent.

Moreover, this was the highest inflation rate since September 2024, when prices rose 1.9 percent.

Similarly, MAS core inflation increased to 1.7 percent in March from 1.4 percent in February. The rise was driven by higher inflation in both retail and other goods and services.

Higher petrol prices pushed up private transport inflation to 6.6 percent from 2.4 percent. Retail and other goods inflation rose to 1.8 percent from 0.6 percent, and services inflation edged up to 2.1 percent from 2.0 percent.

Meanwhile, food prices grew at a steady pace of 1.6 percent, and the deflation in electricity and gas remained stable at 4.3 percent.

Looking ahead, Singapore's import prices are expected to pick up and broaden in the months ahead. Supply chain disruptions amid the Middle East crisis will raise production and transport costs for a wide range of Singapore's imported goods and services.

Core inflation and CPI-all-items inflation are currently projected to average 1.5-2.5 percent in 2026, the MAS said.

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