Singapore’s core inflation climbs to 2.2% in August

Overall inflation increased to 2.3 per cent in August, from 2.2 per cent in July, as higher core inflation more than offset lower private transport inflation.

ST PHOTO: KUA CHEE SIONG

Published Sep 23, 2026, 01:00 PM

Updated Sep 23, 2026, 02:04 PM

SINGAPORE – Singapore’s core inflation rose in August, driven by higher inflation for services, retail and other goods, and food.

Core inflation – which excludes private transport and accommodation to better reflect household expenses – came in at 2.2 per cent, up from 2 per cent in July, according to the Singapore Department of Statistics (SingStat) on Sept 23.

Private transport inflation slowed to 7.5 per cent in August, from 8 per cent in July, due to a smaller increase in car prices.

Services inflation edged up to 2 per cent in August, from 1.7 per cent in July, as airfares and prices of point-to-point transport services climbed at a faster pace.

Retail and other goods inflation rose to 1.8 per cent in August, from 1.4 per cent in July, due to higher inflation in clothing and footwear and personal care products.

Food inflation crept up to 2.3 per cent in August, from 2.2 per cent in July, due to higher food services inflation, even as non-cooked food inflation moderated.

Electricity and gas prices inflation was unchanged at 8.7 per cent as electricity prices rose at a similar pace in August as in July.

“Elevated global energy prices have led to increases in Singapore’s electricity and gas tariffs and higher transportation fares,” the Monetary Authority of Singapore and Ministry of Trade and Industry said in a joint statement on Sept 23.

“Global oil prices remain high and volatile, while adverse weather conditions are expected to lower agricultural yields and raise Singapore’s imported food prices.

“As higher input costs pass through global supply chains, the prices of a wider range of Singapore’s imported goods and services are expected to pick up in the quarters ahead.”

Accommodation inflation was unchanged at 0.8 per cent, with housing rents increasing in August at the same pace as in July.

Timothy Goh is a business correspondent at The Straits Times. He covers commodities and currencies, with occasional forays into listed companies.

Inflation/Price level

Singapore economic data

8 月份整体通胀率从 7 月份的 2.2% 升至 2.3%，原因是核心通胀率的上升抵消了私人交通通胀率的下降。

《海峡时报》摄影：郭志雄

发布于2026年9月23日下午1点

更新于2026年9月23日下午2:04

新加坡——受服务、零售和其他商品以及食品价格上涨的推动，新加坡8月份核心通胀率上升。

新加坡统计局（SingStat）9月23日公布的数据显示，剔除私人交通和住宿费用以更好地反映家庭支出的核心通胀率为2.2%，高于7月份的2%。

由于汽车价格涨幅放缓，8 月份私人交通工具价格通胀率从 7 月份的 8% 降至 7.5%。

8 月份服务业通胀率从 7 月份的 1.7% 小幅上升至 2%，原因是机票价格和点对点交通服务价格上涨速度加快。

受服装鞋帽和个人护理产品价格上涨的影响，8 月份零售和其他商品价格通胀率从 7 月份的 1.4% 升至 1.8%。

受食品服务价格上涨的影响，8 月份食品价格通胀率从 7 月份的 2.2% 升至 2.3%，尽管未加工食品价格通胀有所缓和。

8 月份电力价格上涨速度与 7 月份相似，电力和天然气价格通胀率维持在 8.7% 不变。

新加坡金融管理局和贸易与工业部在9月23日的一份联合声明中表示：“全球能源价格上涨导致新加坡的电力和天然气价格上涨，交通费用也随之增加。”

“全球石油价格依然高企且波动不定，而恶劣的天气状况预计将降低农业产量，并推高新加坡的进口食品价格。

“随着投入成本上升并传导至全球供应链，预计未来几个季度新加坡更多种类的进口商品和服务价格将会上涨。”

住宿通胀率维持在 0.8% 不变，8 月份房屋租金的涨幅与 7 月份相同。

Timothy Goh是《海峡时报》的商业记者，主要报道大宗商品和货币，偶尔也关注上市公司。

通货膨胀/物价水平

新加坡经济数据