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Singapore Core Inflation Rises to Nearly Two-Year High of 2.2% in August; MAS Policy in Focus
Singapore's core inflation rose to 2.2% in August, the highest in nearly two years, driven by higher food, services and electricity costs, keeping pressure on the Monetary Authority of Singapore ahead of its October policy decision. Singapore's core inflation rose to 2.2 per cent in August 2026, the highest in nearly two years, as food, services and electricity costs continued to climb. The reading, released by the Monetary Authority of Singapore and the Ministry of Trade and Industry on Wednesday, September 23, compares with 2.0 per cent in July. The increase keeps core inflation which excludes private transport and accommodation costs above the midpoint of MAS's historical average and comes as the central bank prepares for its next policy decision in October. Drivers of the Increase Food inflation accelerated to 3.1 per cent in August, up from 2.9 per cent in July, while services inflation rose to 2.4 per cent from 2.2 per cent. Electricity and gas costs increased 5.6 per cent year-on-year, reflecting higher global energy prices. "The uptick in core inflation was driven by higher food and services costs, as well as electricity and gas prices," the MAS and MTI said in a joint ...
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