Singapore core inflation ticks up to 1.6% in June as food and retail costs rise

The acceleration from May’s 1.4% reading signals persistent price pressures in the services and goods sectors, complicating the Monetary Authority’s policy outlook.

By Handelsavisen Newsroom · Automated 2026-07-23 05:02 UTC · 1 min read

Singapore’s core inflation rate accelerated to 1.6% in June, up from the 1.4% recorded in May, driven by rising prices for food, retail goods, and services.

The data, released by the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry, marks a reversal of the stability seen in the previous month, where a decline in services prices had offset higher costs elsewhere.

The uptick in underlying inflation comes as the government prepares to adjust the regulated electricity tariff starting in July.

Authorities confirmed that higher global energy prices observed from April through mid-June will be passed through to consumers via the tariff adjustment, adding a direct cost-of-living pressure on households and businesses in the coming quarter.

This development contrasts with the May print, which had defied private-sector economist forecasts that pointed to an acceleration at that time.

The June data suggests that the counterbalancing effect of falling services prices has faded, allowing the upward pressure from food and retail goods to dominate the headline.