Singapore May Inflation Holds at 1.8% as Core Price Growth Misses at 1.4%
Updated
Updated · CNBC · Jun 23
Singapore May Inflation Holds at 1.8% as Core Price Growth Misses at 1.4%
3 articles · Updated · CNBC · Jun 23
Summary
Singapore’s consumer inflation stayed at 1.8% in May, below the 2.0% Reuters poll forecast, while core inflation slowed to 1.4% versus an expected 1.6%.
Subdued underlying price pressures kept the readings soft, with private transport, accommodation, retail and food costs offset in part by cheaper telecommunication services.
The data follows the Monetary Authority of Singapore’s April tightening—its first since April 2022—when it cited Middle East conflict risks and raised 2026 forecasts for both headline and core inflation to 1.5%-2.5%.
Singapore’s economy has still shown resilience, with first-quarter GDP growing 6.0% from a year earlier, though the government kept its 2026 growth outlook at 2%-4% and warned downside risks have risen sharply.