Financial News: Singapore Inflation Eases To 2.2% In September

Singapore Inflation Eases To 2.2% In September

10/23/2026 - 04:42:00 (RTTNews)

(RTTNews) - Singapore's consumer price inflation slowed marginally in September after rising to the highest level in just over two years in August, data published by the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Friday.

The consumer price index, or CPI, climbed 2.2 percent year-over-year in September, following a 2.3 percent rise in August, which was the highest inflation rate since July 2024.

MAS core inflation also moderated to 2.0 percent in September from 2.2 percent in August due to lower inflation for services and retail and other goods.

Services inflation eased to 1.7 percent from 2.0 percent due to a smaller increase in point-to-point transport service costs and a larger decline in telecommunication service prices. Similarly, retail and other goods inflation slowed to 1.2 percent from 1.8 percent as clothing prices rose at a slower pace.

Private transport inflation softened to 7.1 percent from 7.5, led by a more gradual increase in car prices.

Meanwhile, food inflation edged higher to 2.4 percent from 2.3 percent, and electricity and gas prices grew at a steady pace of 8.7 percent.

In the near term, analysts expect Singapore's import prices to remain firm. However, imported inflation should ease over 2027 as the effects of temporary supply disruptions fade.

Meanwhile, domestic unit labor costs in the services sector are expected to remain contained amid continued productivity gains.

MAS Core Inflation is projected to average 1.5-2.0 percent in 2026 and 1.5-2.5 percent in 2027. CPI-All Items inflation is forecast to come in at around 2.0 percent in 2026 and 1.5-2.5 percent in 2027, the MAS said.

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